Cell C says is it is currently in discussions with more than one party over a potential acquisition of the business.<\/p>\n
Cell C chief financial officer Zaf Mohamed told BusinessTech at Blue Label Telecoms offices in Sandton on Friday, that the group has been in ‘more than recent’ discussions with several potential buyers.<\/p>\n
He said that the group is evaluating all offers, but could not elaborate further because the matter is of a sensitive nature.<\/p>\n
Bloomberg reported in January, that the mobile operator has put core parts of the business up for sale as it struggles with R9 billion of debt and deepening losses.<\/p>\n
Cell C\u2019s fibre-optic network is among the assets up for grabs, Bloomberg said, citing people familiar with the matter.<\/p>\n
The carrier is also in talks to sell access to some of its wireless frequencies to larger rival MTN Group, said the people, who asked not to be named as the plans are private.<\/p>\n
The asset sale has attracted interest from MTN, Vodacom Group and Telkom, the former state landline monopoly that\u2019s growing its mobile business, said the people. All three declined to comment.<\/p>\n
\u201cCell C will look at any opportunity that will assist with the company\u2019s long-term viability and sustainability. Any opportunity needs to undergo a due diligence process that takes into account all stakeholders,\u201d a spokesperson said at the time.<\/p>\n
Bloomberg also reported that Vodacom<\/a> was in talks with Cell C about taking on its contract-paying mobile-phone customers, while rumours also surfaced that China Mobile was in discussions to buy a stake in the troubled operator.<\/p>\n