Blue Label signs airtime purchase deal with Investec and First Rand to recapitalise Cell C

Monday 30 August 2021 | 10:24 CET | News
Blue Label Telecoms, the largest shareholder in Cell C, says it has concluded a term sheet for an airtime purchase transaction with financiers Investec Bank and First Rand Bank. In a cautionary statement to its shareholders, Blue Label said proceeds are intended to be utilised for the recapitalisation of Cell C. This arrangement is subject to the conclusion of all legal documentation and fulfilment of all conditions precedent under it, and could have a material impact on the Blue Label share price

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.


Already registered?

Categories: Mobile & Wireless
Companies: Blue Label Telecoms / Cell C
Countries: South Africa
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Blue Label says talks over Cell C debt continue

Published 14 Oct 2021 17:49 CET | South Africa
South Africa's Blue Label Telecoms cautioned shareholders that it remains in talks about a recapitalisation of mobile operator ...

Blue Label Telecoms FY revenue falls 11%

Published 30 Aug 2021 09:49 CET | South Africa
Blue Label Telecoms (BLT) said its revenue declined by 11 percent to ZAR 18.8 billion for the year ended 31 May from ZAR 20.7 ...

Blue Label Telecoms expects FY earnings to increase over 20%

Published 24 Aug 2021 10:26 CET | South Africa
South Africa's Blue Label Telecoms said it expects its basic, headline and core headline earnings per share for the year ended 31 ...

Cell C wants ZAR 4 bln of fresh capital - report

Published 02 Jul 2021 10:15 CET | South Africa
Cell C is in advanced talks with FirstRand unit Rand Merchant Bank and Investec to provide the South African mobile operator with ...