Cell C puts fibre network, spectrum and customer base up for sale - report
18 October 2019
South Africa’s mobile operator Cell C has put core parts of the business up for sale as it struggles with ZAR 9 billion of debt and deepening losses, Bloomberg reported. Cell C’s fibre network and base of billed customers are up for grabs, according to people familiar with the matter. The carrier is also in talks to sell access to some of its wireless frequencies to larger rival MTN, said the people who sought anonymity.
The asset sale has attracted interest from MTN, Vodacom, and Telkom, said the report. All three declined to comment.
A Cell C spokesperson said the company will look at any opportunity that will assist with the company’s long-term viability and sustainability. The spokeswoman said that any opportunity needs to undergo a due diligence process that takes into account all stakeholders.
Cell C is also in talks with MTN about gaining more access to the latter’s network, CEO Douglas Craigie Stevenson said in September.