South African operator Cell C says is it in discussions with more than one party over a potential acquisition of the business, BusinessTech reports. Cell C chief financial officer Zaf Mohamed said that the group has been in "more than recent" discussions with several potential buyers. He said that the group is evaluating all offers, but he could not elaborate because the matter is of a sensitive nature.
Bloomberg reported in January that the mobile operator had put core parts of the business up for sale as it struggles with ZAR 9 billion of debt and deepening losses. Cell C’s fibre-optic network is among the assets up for grabs, Bloomberg said, citing people familiar with the matter. The carrier is also in talks to sell access to some of its wireless frequencies to larger rival MTN Group, said the sources, who asked not to be named as the plans were private.
The asset sale has attracted interest from MTN, Vodacom Group and Telkom, the former state landline monopoly that is expanding its mobile business, said the people. All three declined to comment.
Mohamed told BusinessTech that Cell C will look at any opportunity that will assist with the company's long-term viability and sustainability.
Any opportunity needs to undergo a due diligence process that takes into account all stakeholders, a spokesperson said at the time.
