Cell C dodges questions about transferring spectrum licences to Blue Label

Jan

Jan

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Blue Label is hollowing out Cell C

Cell C has claimed that it must transfer control of its radio frequency spectrum licences to its largest shareholder to comply with regulations — but won’t state which rules it is complying with.

News that the troubled mobile operator had applied to cede control of its crown jewels to its shareholder emerged last week when the Independent Communications Authority of South Africa (Icasa) gave notice of it via Government Gazette.
 
It makes sense that a change of control in Cell C triggered a bunch of regulatory fillings about it's spectrum.

Cell C will not be liquidated. At least not in a disorderly fashion where the creditors are taking a hit because Blue Label hollowed it out.

MyBroadband implies theft in a massive scale. That's very very rare in a JSE listed company. And when it happens, it's always the directors or the auditors who pick it up. Never the journalists.

Of all the problems in SA affecting consumers, MyBroadband is concerned about something that's most likely not a problem and definitely doesn't concern them or consumers.
 
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Probably intentionally doing it for some competition regulatory reasons slowly so that they can stay under the radar then bam they blow
 
nicroets said:
MyBroadband implies theft in a massive scale. That's very very rare in a JSE listed company. And when it happens, it's always the directors or the auditors who pick it up. Never the journalists.
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This is simply false on multiple counts.

MyBroadband did not imply theft or anything else that is illegal. The transfer of Cell C's licences to TPC raises questions, and to date neither Cell C nor Blue Label could clearly explain why it is done.

As for fraud always discovered by directors or auditors - this is misguided. Journalists unearthed fraud at Wirecard, Enron, EOH, and many others. The directors did not pick it up. The auditors followed after the media reports surfaced.
 
There is something very shifty going on at that company, someone is up to no good.
 
r00igev@@r said:
Was my thoughts exactly. Transfer the Crown Jewels then declare bankruptcy?
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Every single company is doing this now. All assets are sold and transferred to a holding company then the paper is liquidated and nobody gets a cent. Smart way to screw the investors over. This must certainly STOP.
 
There is no real reason to liquidate or sell and I don't think it offers anything real brand wise for one of the big players to be interested. They can just run it as a MVNO without any assets and let it die slowly.
I do think that moving the licences in this way disadvantages smaller share holders.
 
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