Blue Label completes Cell C recapitalisation
·7 Aug 2017
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.
Read: Blue Label gets shareholder approval for Cell C recapitalisation
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