Cell C's recapitalisation plan announced

[Hanno Labuschagne]

Cell C's recapitalisation plan announced

Blue Label Telecoms announced yesterday that it concluded a non-binding term sheet with Cell C and its various financial stakeholders, but several questions remain about the deal.

To restructure Cell C’s R7.3 billion debt to certain secured lenders, Blue Label’s wholly-owned subsidiary, The Prepaid Company (TPC), will loan the mobile operator a maximum amount of R1.46 billion.

It anticipates only needing to lend Cell C R1.03 billion.

 

[marine1]

The press is giving BLT a hiding lately.

 

[MikeMike]

Trying to resurrect a mummy at the feet of the 3 giants pyramids, like Vodacom, Telkom and MTN. You're gonna need more lighting, Dr Frackenstein.