CellSAf challenges Cell C’s restructuring plan

2 December 2016

Mergers, Acquisitions and Financial Results

South African Black Economic Empowerment (BEE) entity CellSAf consortium, which holds a 25% stake in the parent company of mobile operator Cell C, has reportedly filed a legal challenge against the cellco’s planned restructuring.

According to Reuters, CellSAf reportedly claimed that it wasn’t afforded an option to comment on the restructuring plan – under which Johannesburg-based pre-paid airtime distributor Blue Label Telecoms will acquire 45% of Cell C for ZAR5.5 billion (USD399 million) via its subsidiary The Prepaid Company (TPC) – before it went ahead.

Source: Telegeography 30 November 2016