Cell C receives USD 180 mln equity injection

News Wireless South Africa 25 MEI 2012
Cell C receives USD 180 mln equity injection
South Africa mobile operator Cell C announced that its majority shareholder, UAE-based Oger Telecom, is injecting USD 180 million in fresh equity in the South African operator. Cell C CEO Alan Knott-Craig said the foreign investment demonstrates the confidence the shareholders have in both South Africa and Cell C. The news comes just over two years after Cell C restructured its long-term debt, converting shareholder loans to equity in the company. The investment will not alter Oger's 75 percent holding in Cell C, with the remaining 25 percent owned by black empowerment group CellSaf.

Categories:

Mobile

Companies:

Oger Telecom,  Cell C

Countries:

South Africa

Tags:

Financial funding

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