No talks with Bharti-Airtel, says Knott-Craig
New Cell C CEO Alan Knott-Craig says that he is not in discussions with Bharti-Airtel to get additional funding for Cell C.
Cell C announced today (19 January 2012) that it has appointed former Vodacom CEO Alan Knott-Craig as the new Chief Executive Officer of Cell C.
Speculation about Knott-Craig joining Cell C as CEO started late last year (2011) – speculation which also suggested that Knott-Craig was in discussions with a potential international partner for Cell C.
Industry rumours pointed to a potential investment from the Indian business conglomerate, Bharti-Airtel, which is looking to get a cellular footprint in South Africa.
Knott-Craig has however debunked these rumours, saying that, while he contacted Bharti previously, he is not in discussions with them regarding an investment in Cell C.
The new Cell C CEO has also dismissed speculation that he wanted a guarantee from the Cell C board that he would be given adequate funding to execute his plans before accepting the position.
Spiwe Chireka, program manager at the IDC, said that Bharti-Airtel’s interest in entering the South African market would likely come in the form of a merger and acquisition (M&A) – with Cell C a suitable target.
A deal may therefore still be attractive, especially with Knott-Craig at the helm of Cell C.
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