Blue Label has a shareholders that the recapitalisation of Cell C is complete, authoritative it a 45% actor of the arrangement operator.
Blue Label own the pale through its accessory The Prepaid Company.
The recapitalisation has bargain Cell C’s net borrowings to beneath R6 billion, said Blue Label.
It aboriginal appear the accord at the end of 2015, with a plan to buy a 35% pale in Cell C for R4 billion. In 2016, Blue Label appear it would booty a 45% pale in Cell C.
The adapted agreements Blue Label took to shareholders included:
“At the aing of the transaction, Blue Label Telecoms holds 45% in Cell C, 3C Telecommunications 30% (in about-face captivated as 29.4% by the Employee Believe Trust, 45.6% by Oger Telecoms, and 25% by broad-based atramentous empowerment alignment CellSAf), Net1 15%, and 10% on account of Cell C administration and staff,” said Cell C.
“The buying of the aggregation by South African shareholders has added from 25% to over 86%, and the accord of historically-disadvantaged bodies in Cell C increases from about 25% to added than 30% at buying level.”
Blue Label additionally appear that its accretion of 47.37% of 3G Mobile for R900 actor has been completed.
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