Cell C finalises recapitalisation plan

Cell C said on Wednesday it had finalised its recapitalisation plan, which has been sent to the Competition Commission for approval.

“As it is a matter before a regulator and a decision has not yet been made, we cannot comment until the recapitalisation transaction has been successfully concluded,” the firm said in response to questions about the details of the plan.

South Africa’s third-largest telecoms company, which is majority owned by Blue Label Telecoms, faces a liquidity crunch as it has underperformed in a highly competitive market dominated by MTN and Vodacom .