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.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Acsa suspends Air Zimbabwe service over cash issues | IOL Business ReportAirports Company South Africa (Acsa) has confirmed that it has suspended Air Zimbabwe from using its airports with effect from Tuesday. SA will bail them out by tomorrow morning
Source: IOL - 🏆 46. / 51 Read more »

Humanising the digital space, African Bank opens new branch in Sandton | IOL Business ReportWhile some major South African banks are downsizing and planning on shutting down some of their branches, African Bank continues to expand and upgrade its branch network. busrep busrep I'm truly hoping African Bank has turned the corner. It's been to hell and back. It deserves some luck.
Source: IOL - 🏆 46. / 51 Read more »

Standard Bank says internet downtime not related to City of Joburg hack | IOL Business ReportStandard Bank says internet banking downtime not related to the hack on the City of Joburg. busrep
Source: IOL - 🏆 46. / 51 Read more »

Cash-flush beauty retailer returns R1.2 billion to shareholders | IOL Business ReportCash-flush pharmaceutical health and beauty retailer Clicks returned a total of R1.2 billion to its shareholders in the year to the end of August, bringing total dividends paid in the past 10 years to R7.4bn. busrep
Source: IOL - 🏆 46. / 51 Read more »