Categories: Telecommunications

Telkom Looking To Buy Endangered Cell C

Share

Cell C has been in a dark place for the longest of times with things coming to a head when the South African telecoms company announced that it had made losses of R8 billion earlier this year.

Shortly after announcing the results, Cell C announced that they would be moving their network to MTN which would essentially make the company a Virtual Mobile Network Operator.

It seems that wasn’t the last twist of the Cell C. Telkom has now announced that they are in talks to buy Cell C despite talks still being in their formative stages:

advertisement

Telkom has substantially concluded its due diligence, however, discussions are at a preliminary stage

The Potential Acquisition will be subject to Cell C completing a financial restructuring to ensure that its gearing levels are reduced to a sustainable level as specified by Telkom and commercial contractual relationships are renegotiated to terms acceptable to Telkom.

Telkom Statement

This is the third time that Telkom has attempted to purchase Cell C with the latest attempt proving futile after Cell C recapitalised under Blue Label Telecoms.

If the acquisition of Cell C does go through it would leave Telkom with around 22 million subscribers which is almost a 100% increase in subscriber numbers from Telkom’s 11.5 million subscribers.

It’s not yet clear how Telkom’s interest will affect Cell C and MTNs plans which were also reportedly in advanced stages.


Quick NetOne, Telecel, Africom, And Econet Airtime Recharge

If anything goes wrong, chat with us using the chat feature at the bottom right of this screen

Leave a Reply

Your email address will not be published.

Published by
Farai Mudzingwa

Recent Posts

ZESA increased by 50% last week then by another 50% today and it will increase by 50% on 1 November

So we are getting dizzy with the electricity tariff increases. On 23rd September (just over…

October 1, 2020

EcoCash joins ZimSwitch, you can now send money from EcoCash to OneMoney and other accounts directly

Last month the RBZ's Monetary Policy Statement revealed that the date for ZimSwitch becoming the…

October 1, 2020

Within days ZESA increases tariffs by a further 50% with effect from today

Last week ZESA, through a communique, announced the increase in electricity tariffs by 50%. In…

October 1, 2020

Video: Amazon Echo Dot does some very cool things but should you buy it?

The Amazon Echo Dot is an entry level smart speaker from the e-commerce giant Amazon.…

September 30, 2020

Download: Veritas legal comment on Cybersecurity and Data Protection Bill

The Government of Zimbabwe proposed Cybersecurity and Data Protection Bill is being fast tracked into…

September 30, 2020

Facebook is bringing Messenger into Instagram DMs

If we take a little trip back in time to early last year Facebook, according…

September 30, 2020