{"id":167787,"date":"2016-06-08T09:48:55","date_gmt":"2016-06-08T07:48:55","guid":{"rendered":"http:\/\/mybroadband.co.za\/news\/?p=167787"},"modified":"2016-06-08T09:50:43","modified_gmt":"2016-06-08T07:50:43","slug":"cell-c-recapitalisation-on-track-implementation-date-extended","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/cellular\/167787-cell-c-recapitalisation-on-track-implementation-date-extended.html","title":{"rendered":"Cell C recapitalisation on track, implementation date extended"},"content":{"rendered":"<p>Cell C&#8217;s\u00a0recapitalisation process is ongoing, and the parties involved have agreed to\u00a0extend the targeted implementation date to facilitate the conclusion of negotiations.<\/p>\n<p>The\u00a0expected effective date of the recapitalisation was 1 June 2016, but\u00a03C Telecommunications, Blue Label Telecoms, and Cell C staff and management agreed to extend the date.<\/p>\n<p>On 10 December 2015, Cell C\u00a0<a href=\"http:\/\/mybroadband.co.za\/news\/business\/149371-cell-c-to-be-sold-to-blue-label-telecoms-and-staff.html\"><strong>received offers to recapitalise the company<\/strong><\/a>\u00a0&#8211; which would reduce net debt to R8 billion or less when implemented.<\/p>\n<p>Blue Label Telecoms submitted a conditional binding offer of R4 billion hold around 35% of the total issued shares in Cell C at the close of the recapitalisation.<\/p>\n<p>Cell C management and staff submitted an offer of R2.5 billion to hold about 30%, and current Cell C shareholder 3C Telecommunications will subscribe to hold about 35% of the total issued shares.<\/p>\n<p>&#8220;Further updates will follow when appropriate,&#8221; said Cell C.<\/p>\n<h3 class=\"my-4\">More on Cell C<\/h3>\n<p><strong><a href=\"http:\/\/mybroadband.co.za\/news\/cellular\/167549-no-vodacom-cell-c-was-first.html\">No Vodacom, Cell C was first<\/a><\/strong><\/p>\n<p><strong><a href=\"http:\/\/mybroadband.co.za\/news\/cellular\/167259-cell-c-launches-woza-weekend-with-free-weekend-calling.html\">Cell C launches Woza Weekend with free weekend calling<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cell C&#8217;s recapitalisation process is ongoing, and the parties involved have agreed to extend the targeted implementation date to facilitate negotiations.<\/p>\n","protected":false},"author":23,"featured_media":148439,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[19,14],"tags":[36,355],"class_list":["post-167787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-cellular","tag-active","tag-cell-c"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/167787"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=167787"}],"version-history":[{"count":1,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/167787\/revisions"}],"predecessor-version":[{"id":167793,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/167787\/revisions\/167793"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/148439"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=167787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=167787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=167787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}