Cell C recap delayed by a month
The recapitalisation of mobile operator Cell C has been delayed to the end of August, JSE-listed Blue Label Telecoms said in an update to shareholders on Monday
The overall recapitalisation transaction was initially expected to proceed to final close late in July after lenders of the embattled mobile operator on July 5 voted in favour of the compromise offer of 20c for every R1 of debt.
“Although the final stages of the recapitalisation process are progressing well, certain delays have resulted in the transaction being expected to close towards the end of August 2022,” Blue Label comments, assuring that while certain of the binding long-form agreements are not yet in final execution form, they are in the process of finalisation.
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