Listed telco group Blue Label Telecoms has finalised its recapitalisation of mobile operator, Cell C.
In an announcement on Monday (7 August), Blue Label said that the Cell C recapitalisation has been fully implemented, resulting in Cell C’s Net
Borrowings being reduced to below R6 billion.
Blue Label, through its wholly-owned subsidiary, The Prepaid Company, now owns 45% of the issued share capital of Cell C, it said.
The company also said that the initial acquisition by The Prepaid Company of 47.37% of the issued share capital of 3G for a purchase consideration of R900 million has been implemented.