On The Money - In Brief

Mergers, Acquisitions and Financial Results

- South African cellular operator Cell C announced last week it had turned EBITDA (earnings before interest tax, depreciation and amortisation) positive on a monthly basis at the end of May 2004. Cell C said this development has boosted expectations that it was poised to go cash positive in 2005, a move that would ease pressure on funding for future growth.While optimistic to continue being EBITDA positive on a monthly basis for the balance of 2004, the group said it expects short-term growth in active subscribers to slow while medium-term value indicators improve.