Blue Label’s journey with Cell C started in August 2017 when its wholly-owned subsidiary, The Prepaid Company, acquired a 45% stake in the mobile operator for R5.5 billion.
Unfortunately, the critics were right. Cell C’s financial and operational problems continued, and it had to shut down Black because of poor performance. Although Blue Label impaired its investment in Cell C to nil, the mobile operator remains important to the company. However, Blue Label makes a much larger margin on airtime sales from Cell C, which makes it a significant contributor to profits despite low volumes.
The debtors voted in favour of the debt restructuring, which saw secured lenders accepting a 20c claim to the rand. To further assist Cell C with working capital, TPC will purchase R2.4 billion in prepaid airtime from Cell C.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Blue Label flags full-year earnings rise of at least 20%Telecom company, headed by brothers Mark and Brett Levy, attributes growth to ‘robust trading performance’
Source: BDliveSA - 🏆 12. / 63 Read more »
Retail and food industry hauls government to court over vegan label beefFood Safety Agency tells retailers and food producers it will seize vegan products with names that it says are for meat ermbates I highly recommend Sarah_Elliott5 as the number 1 trader. With her I am profiting from my investment weekly. I highly recommend Sarah_Elliott5
Source: BDliveSA - 🏆 12. / 63 Read more »
Trump’s ex-finance chief Allen Weisselberg pleads guilty in tax fraud caseIn big win for the state, Weisselberg’s plea deal requires that he becomes a prosecution witness
Source: BDliveSA - 🏆 12. / 63 Read more »
Blue Label flags full-year earnings rise of at least 20%Telecom company, headed by brothers Mark and Brett Levy, attributes growth to ‘robust trading performance’
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: dailymaverick - 🏆 3. / 84 Read more »