Delay in Cell C recapitalisation
There could be a delay in the finalisation of the recent recapitalisation deal between Cell C and Blue Label Telecoms, as the Independent Communications Authority of South Africa (Icasa) has said the mobile operator may have failed to make the correct regulatory filings regarding the transaction.
- Blue Label Telecoms finalises Cell C recapitalisation
- Kuben Pillay & Larry Nestadt join Cell C board
Icasa says it seems as though there has been non-compliance with what it calls legislative provisions, and as such is seeking external legal advice on the matter. Cell C, meanwhile, is busy submitting information to Icasa, claiming it is unsure why the regulator believes it failed to follow correct procedure in its recent recapitalisation scheme.
Pictured:Jose Dos Santos, Cell C CEO