Cell C suffers R2.4 billion loss

[Hanno Labuschagne]

Cell C suffers R2.4 billion loss

Cell C made a loss of R2,448,510,000 between 1 June 2021 and 31 May 2022, Blue Label Telecoms has reported in its annual results.

Blue Label’s wholly-owned subsidiary, The Prepaid Company, acquired a 45% stake in Cell C on 2 August 2017 for R5.5 billion.

 

[Dan C]

 

[Dups!]

Lost cause, this one.

 

[Wysjoumuis]

Broke Cell C achieves top BEE rating

Cell C’s dismal financial state and operational problems did not deter it from ensuring that transformation is a top priority.

mybroadband.co.za

This is more important, BBE

 

[dualmeister]

Cell C is still around?

 

[Heisenborg]

Lekkkkaaaaa bbbbeeeeeeee ne

 

[ToxicBunny]

But I thought they'd fixed the problems...

 

[Gozzy]

But I thought they'd fixed the problems...

Anything but, I am still waiting on a eSim for my watch lol... fortunately my contract expires in Nov so it's almost over hehe.

 

[epah]

 

[Johnatan56]

But I thought they'd fixed the problems...

Aren't they still busy with the recapitalization, end of next month? Would need to see how much the debt is costing, a lot of the issues they're suffering is because they have terrible loan conditions that they should never have taken.

 

[SlowInternet]

It's no surprise, they will never make a profit.

 

[Randux]

Sell it for parts

 

[Swa]

Creative accounting.

 

[Pak Fa Fui]

Anyone ever think the Vodacom guy took those people to Cell C just to burry them there

 

[Marcan]

Anyone ever think the Vodacom guy took those people to Cell C just to burry them there

You mean AKC Sr, or JdS, after Lars Reichelt.

 

[Gaz{M}]

Sell it for parts

They don't own any parts. Towers are gone and netowrk is MTN/Vodacom, so all they are is a brand.

 

[B-1]

They don't own any parts. Towers are gone and netowrk is MTN/Vodacom, so all they are is a brand.

Brand and customer base. But I don't see how they could get out of the hole they are in without billions in investments and that in the current economic climate is a huge risk. At best I see another company buying them for the customers and retrenching the majority of staff and selling off what little is left.

 

[Friday13th]

I so badly want Cell C to succeed. I don't want a return to the 90s MTN/Voda. If those two are allowed to collude and fix prices again, it will be bad for us all.
Pity Telkom Mobile have such kak networks and it's a mission to get assistance from them.