Communications regulator Icasa and the Competitors Tribunal can have separate public hearings within the coming months to analyze Blue Label Telecoms’ proposed acquisition of management in cellular operator Cell C.
Blue Label, which has invested greater than R7.5-billion in Cell C, holds 49.5% of Cell C’s fairness, however has moved to purchase fairness management of the corporate.
At present Blue Label has a non-controlling 49.5% stake in Cell C, and it has mentioned it needs to amass an extra 4% stake within the enterprise to take its fairness holding to 53.5%.
Brett Levy, co-CEO of Blue Label, instructed TechCentral on Thursday that Icasa has set 19 September because the date for public hearings into the proposed transaction. Levy mentioned he hopes the Competitors Tribunal will hear the matter by the tip of October.
In April, the Competitors Fee beneficial to the tribunal that the transaction be allowed to proceed, with circumstances.
“The fee has beneficial that the Competitors Tribunal approves the merger topic to circumstances to mitigate information-exchange issues, and circumstances making certain the continued use of sure pay as you go airtime distribution channels for a interval, post-merger,” the regulator mentioned in an announcement on on the time, with out elaborating.
Spectrum
Blue Label, via The Pay as you go Firm (TPC), has additionally filed an utility with Icasa for approval to switch Cell C’s spectrum licences to TPC.
“Cell C will nonetheless retain full management of its spectrum on this working mannequin and can proceed to function as a licensee offering cellular companies to its buyer base as a cellular community operator,” Cell C mentioned in an announcement final December.
TCS | Levy brothers on the way forward for Blue Label and Cell C
Final September, Levy mentioned Blue Label was additionally eager to usher in a brand new strategic investor into Cell C. He mentioned on Thursday that that is nonetheless the plan, however emphasised no discussions are at present happening. – © 2024 NewsCentral Media
