Virgin, Cell C deal safe?
Jonathan Newman, advisor to the CEO at Cell C, said to the best of his knowledge, the deal was still expected to be concluded before the end of December, as previously announced. “So unless something changes from its side, it is all happening.”
Cell C released its quarterly performance numbers last week. As part of that general release, it said discussions with Virgin to form a joint venture service provider in South Africa under the Virgin Mobile brand were progressing “well” and it hoped to make an announcement before the year-end.
Virgin’s Richard Branson has said previously while in South Africa, that the country’s cell phone and banking charges are too high, and should come down.
It was announced yesterday that NTL had made a £817m (about R8,99bn) bid for Virgin Mobile, with the aim of creating a television, internet and voice service provider under the Virgin brand. This accords with the increasing trend towards converging mediums of communication and entertainment.
In reaction to news of the deal, IT research house Gartner said there were immediate opportunities in bundling and cross-selling between Virgin and NTL customers and the deal could enable NTL to become the first “quadruple play” provider in the UK.
Source: http://www.moneyweb.co.za
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