\tTelkom South Africa re-emerged as a contender to acquire debt-ridden rival Cell C, Bloomberg reported.<\/p>\n
Sources told the news agency the fresh bid comes as talks with fellow rival MTN are advanced, and another option is available from local investor group Buffet Consortium, which acquired a minority stake in Cell C from Blue Label Telecoms earlier this year.<\/p>\n
Cell C apparently made no comment about Telkom’s renewed interest, telling Bloomberg only that it remained focused on a restructuring programme, “implementing a revised network strategy and improving overall liquidity”.<\/p>\n
But, it added it would carefully evaluate options which would boost its “long-term viability”.<\/p>\n
Telkom told the news service it is in talks with an acquisition target, but did not name the company involved.<\/p>\n
Bloomberg’s sources said Telkom would assume all control of Cell C\u2019s operations and prioritise a plan to reduce its massive ZAR9 billion ($607 million) debt, which it has laboured with.<\/p>\n
In October, MTN South Africa CEO Godfrey Motsa said the nation’s economy could be damaged if Cell C folded, and expressed interest in acquiring the ailing operator [1].<\/p>\n
A deal was also reportedly \u201cimminent\u201d with the world\u2019s largest operator, China Mobile [2].<\/p>\n[1] https:\/\/www.mobileworldlive.com\/featured-content\/top-three\/mtn-keen-to-resolve-cell-c-woes\/
\n[2] https:\/\/www.mobileworldlive.com\/featured-content\/top-three\/china-mobile-pursues-cell-c-purchase\/<\/p>\n","protected":false},"excerpt":{"rendered":"
Telkom South Africa re-emerged as a contender to acquire debt-ridden rival Cell C, Bloomberg reported. …<\/p>\n
The post Telkom throws hat back in the ring for Cell C<\/a> appeared first on Mobile World Live<\/a>.<\/p>\n