Blue Label Telecoms has reportedly said that they are in talks to recapitalize Cell C in which Blue Label Holds 45% stake.
“This arrangement is subject to the conclusion of all legal documentation and the fulfilment of conditions precedent under such legal documentations,” Blue Label said in the initial cautionary notice.
Statement by Blue Label
“Cell C’s interim results for the six-month period to June 2021 highlighted continued improvements in profitability and operational efficiency as the fit-for-purpose entity implemented its new operating model, network strategy and attracted new customers through innovation in products and services.”
Company Statement Dated 27th October
“A recapitalisation is the final pillar in Cell C’s turnaround strategy and will provide momentum to effectively manage the transition, focus on profitable revenue growth and the overall simplification of the cost base, putting Cell C on the path to long-term sustainability.”
Douglas Craigie Stevenson, CEO, Cell C
