Cell C announces changes to its board | IOL Business Report

JOHANNESBURG - Cell C, South Africa’s third-largest telecoms company today announced changes to its board, including the appointment of a new chairman and board member representatives from shareholders Blue Label Telecoms and Net1.

Cell C, South Africa's third-biggest mobile operator is grappling with an R9 billion debt and has lost market share to its peers MTN and Vodacom. Cell C’s 2011 tower agreements and other risk-based pricing on certain contracts have created significant financial drag on the business. Cell C confirmed earlier this month that it was in discussions with MTN regarding an extended roaming agreement which was mutually beneficial to both parties.

“We will not comment further as discussions are still in progress,” Cell C said. MTN also confirmed the talks and said an extended roaming agreement was at an advanced stage. “We are currently in discussions with Cell C regarding a revised agreement and how MTN can continue to work with Cell C. We believe there are still opportunities to pursue - to the benefit of both businesses," an MTN spokesperson said.

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