Cell C CEO, Jose Dos Santos says that the company is making a month-on-month profit, and has been for several quarters already.<\/p>\n
Speaking at the company’s headquarters in Midrand on Wednesday (23 September), Dos Santos said: “Our competitors want to buy us…because we are a damn good asset. Telkom if you want to buy us, write out the cheque.”<\/p>\n
When asked how profitable, Dos Santos said ‘very profitable’ not elaborating.The company is a private entity and is therefore not obliged to reveal its financial details.<\/p>\n
Last month Business Day<\/a> reported that six groups have displayed interest in acquiring South Africa\u2019s third largest mobile operator.<\/p>\n The business publication cited a direct quote from Cell C parent company, Oger Telecom\u2019s chief legal officer and deputy CEO, Mazen Abou Chakra.<\/p>\n \u201cSix groups approached us with interest in acquiring our stake in Cell C,\u201d Chakra said, adding that no decision has been taken on the matter.<\/p>\n Oger Telecom noted in March 2015 that is looking to sell its 75% stake in the local operator, following revised termination rates implemented by Icasa.<\/p>\n Though the Oger executive did not mention any names or details about the six groups vying for the share, Telkom has been open about having its eye on Cell C.<\/p>\n Earlier in August, Telkom CEO Sipho Maseko expressed some interest<\/a><\/strong> in buying Cell C, calling it an \u201cinteresting proposition\u201d.<\/p>\n \u201cAt the right price, I\u2019m a buyer,\u201d Maseko said.<\/p>\n Dos Santos said that with hard work, the company has delivered real value. He suggested that it’s profitability has come before the past two quarters.<\/p>\n He said that Cell C has engaged with its competitors over a potential acquisition. Nothing material has come of the discussions, however, Dos Santos said. “People talk all the time,” he said.<\/p>\n He added that the discussions have not only been with local players, but international players too.<\/p>\n “We are a very healthy organisation,” Dos Santos said, re-iterating that the company has given MTN a good smack, warning Vodacom, “we are coming”.<\/p>\n Dos Santos said that the company now has just shy of 22 million customers. This is compared to MTN SA, which has a subscriber base of 28.5 million, and Vodacom, with 31.4 million.<\/p>\n Cell C to spend R8 billion on LTE network<\/a><\/strong><\/p>\n Cell C eyes early LTE rollout<\/a><\/strong><\/p>\n 6 groups interested in acquiring Cell C: report<\/a><\/strong><\/p>\nMore on Cell C<\/h3>\n