\tThe CEO of MTN South Africa warned the nation\u2019s economy could be damaged if troubled rival Cell C failed, as the company became the latest to express interest in acquiring the operator, Business Report stated.<\/p>\n
Godfrey Motsa told the South African financial newspaper MTN would offer aid to its sickly rival if there was a clear economic value to the move, highlighting the potential loss of thousands of direct and indirect jobs if Cell C collapsed. The executive cited a broader ecosystem of suppliers along with the loss of taxes as examples.<\/p>\n
MTN reportedly entered the race to acquire Cell C, which is struggling to contend with mounting losses and debt.<\/p>\n
If accurate, the South African operator would go head-to-head with local rival Telkom and the world\u2019s biggest mobile operator, China Mobile [1], which reportedly opened discussions with Cell C regarding an acquisition earlier this month. Telkom abandoned a previous takeover bid in 2017, but is apparently again keen on pursuing a deal.<\/p>\n
While Cell C and MTN remained tight lipped on the status of takeover talks, the latter reportedly confirmed a fresh roaming deal was close to being agreed.<\/p>\n
Business Report placed Cell C\u2019s current debt at ZAR9 billion ($608.5 million).<\/p>\n[1] https:\/\/www.mobileworldlive.com\/featured-content\/top-three\/china-mobile-pursues-cell-c-purchase\/<\/p>\n","protected":false},"excerpt":{"rendered":"
The CEO of MTN South Africa warned the nation’s economy could be damaged if troubled …<\/p>\n
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