South Africa's mobile operator Cell C finalises recapitalisation plan

  • Reuters
  • Stock Market News
South Africa's mobile operator Cell C finalises recapitalisation plan
Credit: © Reuters.

JOHANNESBURG, May 20 (Reuters) - South Africa's mobile operator 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 BLUJ.J , faces a liquidity crunch as it has underperformed in a highly competitive market dominated by MTN MTNJ.J and Vodacom VODJ.J .

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