Many companies interested in buying Cell C: report

Six groups have displayed interest in acquiring South Africa’s third largest mobile operator, Cell C, according to a report by Business Day.

The business publication cited a direct quote from Cell C parent company, Oger Telecom’s chief legal officer and deputy CEO, Mazen Abou Chakra.

“Six groups approached us with interest in acquiring our stake in Cell C,” Chakra said, adding that no decision has been taken on the matter.

Oger Telecom noted in March 2015 that is looking to sell its 75% stake in the local operator, following revised termination rates implemented by Icasa.

Though the Oger executive did not mention any names or details about the six groups vying for the share, Telkom has been open about having its eye on Cell C.

Earlier in August, Telkom CEO Sipho Maseko expressed some interest in buying Cell C, calling it an “interesting proposition”.

“At the right price, I’m a buyer,” Maseko said.

According to a report by Bloomberg, Telkom sees Cell C as a potential way to grow its mobile business, which needs scale, according to chairman, Jabu Mabuza.

“(Cell C) may be part of our solution,” he said.

Republished with permission from BusinessTech

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Many companies interested in buying Cell C: report