Last month, it was announced that Telkom and Cell C had abandoned their talks of merging. However, it has now come to light that the board of Cell C has accepted an offer from Blue Label Telecoms to acquire 35% of the company for R4bn. Blue Label is a company which distributes prepaid airtime, starter packs, data and electricity tokens and it also specialises in transactional offerings such as financial services and ticketing.
On top of this, the boards of Cell C and its holding company, 3C Telecommunications will be holding 30% of the mobile giant’s shares.
Cell C had announced earlier this month that it was looking at various offers which would recapitalize the company and reduce their net debt to R8bn or less. This would allow Cell C to keep their promise to their consumers regarding top services and innovative products with continued growth and investment. It will also empower their staff.
Once funding is secured, the company has said that the expected date of implementation will be June 1, 2016.
A recent technology news report has stated that the recapitalization will mean Oger Telecom, Cell C’s major stakeholder, dropping its stake from 75% to approximately 27%.
If you are interested in seeing what Cell C has to offer, use LikeMoney to compare its offerings to those of other South African mobile giants such as Vodacom, MTN, and more. Cell C offer a wide range of cellular and mobile data deals, putting the power in your hands. Their recent humourous advertising campaign conveys their message of being a top South African cellular provider who can top all other cellular deals out there, hence not ripping the customer off.
Have you taken advantage of any of these deals yet? We certainly look forward to seeing what else is in store for South Africa’s third largest mobile network in 2016.