Blue Label Telecoms completes 45% stake acquisition of Cell C
Blue Label Telecoms is now a 45 per cent shareholder of network operator, Cell C. The stake is through its subsidiary, The Prepaid Company. Joining CNBC Africa is Mark Levy, joint CEO of Blue Label Telecoms.
Mon, 07 Aug 2017 15:15:52 GMT
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AI Generated Summary
- Blue Label Telecoms completes a 45% stake acquisition of network operator Cell C through its subsidiary, The Prepaid Company, signaling a major milestone in the telecom industry in South Africa.
- The acquisition process, which spanned over two years, involved restructuring Cell C's balance sheet and empowering the management team to drive innovation and enhance customer offerings, setting the stage for future growth and competitiveness.
- The partnership between Blue Label Telecoms and Cell C opens up new opportunities for vertical integration and collaboration, with a focus on delivering value to customers, creating jobs, and contributing to economic development in the region.
Blue Label Telecoms has successfully acquired a 45% stake in the network operator Cell C through its subsidiary, The Prepaid Company. Mark Levy, the joint CEO of Blue Label Telecoms, recently discussed the completion of the deal in an interview with CNBC Africa. Levy expressed his satisfaction with the finalization of the acquisition, emphasizing that while it was a long and challenging process, the focus now is on moving forward and embracing the exciting opportunities that lie ahead. The transaction, which took two years to complete, marks a significant milestone for both companies and has the potential to reshape the telecom landscape in South Africa. Levy credited the new management team at Cell C for their innovative approach to enhancing product and service offerings, highlighting the importance of a restructured balance sheet in supporting their strategic vision. By strengthening Cell C's financial position, Blue Label Telecoms aims to enable the telco to drive growth and competitiveness in the market. The acquisition not only bolsters Blue Label Telecoms' investment portfolio but also opens up strategic opportunities for vertical integration and collaboration between the two companies. The interview shed light on the challenges and triumphs of the acquisition journey, underscoring the resilience and teamwork of the stakeholders involved. Levy reflected on the transformative impact of the deal, drawing parallels between the current success and the company's humble beginnings. He emphasized the significance of the acquisition in creating employment opportunities and fostering economic growth in the region. Looking ahead, both Blue Label Telecoms and Cell C are poised to leverage their strengthened partnership to deliver value to customers and drive innovation in the industry. The completion of the stake acquisition signifies a new chapter for both companies, setting the stage for a synergistic collaboration that promises to shape the telecom sector's future in South Africa.
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