Tag: Cell C

Cell C migrates its contract customers to Vodacom network as it seeks to cut costs

Frank

SOUTH AFRICA – Mobile phone operator Cell C has begun the planned migration of its customers off its radio access network as it moves to shut down this infrastructure to save costs with the clients being migrated to its new partner, MTN, the company has said The company said that the initial batch of customers is moving to the Vodacom network. The migration has begun with contract and broadband customers and is due to be completed in the next two months, Cell C said. The news would seem to suggest a…

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South Africa’s mobile operator Cell C rejects Telkom’s takeover bid

Frank

SOUTH AFRICA – The Cell C board has rejected the non-binding offer by Telkom saying that it “continues to believe the offer is a compelling proposition that would have created significant for all stakeholders including Telkom’s shareholders”. According to ItWeb, the company has since advised shareholders not to exercise caution when dealing in Telkom securities. Just over a week ago, both carriers informed the markets that preliminary discussions of a tie-up were ongoing. At the time, Cell C was discussing various proposals, including Telkom’s non-binding offer, with independent financial and…

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Telkom to acquire embattled Cell C having concluded the due diligence

Frank

SOUTH AFRICA – Telkom, a telecommunication provider has made an offer to acquire Cell C. Telkom has substantially concluded its due diligence, however, the company said in statement that the discussions are at a preliminary stage, reports Business Live. The potential acquisition will be subject to Cell C completing a financial restructuring to ensure its gearing levels are reduced to a sustainable level. As specified by Telkom, and commercial contractual relationships are renegotiated to terms acceptable to Telkom, it said. This comes after Telkom said that it was in talks…

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Cell C launches Small Business Innovation Challenge for ICT SMEs

Frank

SOUTH AFRICA – Cell C Limited, a South African mobile company, has opened applications for an innovation challenge that offers tech startups access to interest-free loans and investment. Cell C has partnered South Africa’s Small Enterprise Development Agency (Seda) to launch the Cell C Innovation Challenge, a challenge in which SMEs in the ICT sector will be able to pitch their ideas for a shot at accelerating the SME’s solutions. The Cell C Innovation Challenge will give SMEs with great ideas a partnership opportunity that consists of interest-free loans, mentorship…

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Blue Label sells its Blue Label 3G Mobile to reduce its debt

Frank

SOUTH AFRICA – Telecommunications group Blue Label Telecoms, Cell C’s largest shareholder, is selling its interest in Blue Label Mobile Group to investment holding company DNI 4PL Contracts, which would also acquire Blue Label subsidiary The Prepaid Company’s (TPC’s) interest in 3G Mobile, to settle its debts. “Over the past two years, significant investments were made, necessitating an increase in interest-bearing debt in order to ensure that the group’s working capital requirements continued to be met. Accordingly, the Blue Label board of directors have decided to deleverage the business in…

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