South Africa's Cell C gets $263 mln equity injection from Blu Label - CNBC Africa

South Africa's Cell C gets $263 mln equity injection from Blu Label

Southern Africa

by Reuters 0

South Africa's Cell C gets $263 mln equity injection from Blu Label. Photo: Pexels

South Africa's Blue Label Telecoms said on Thursday it has offered $263 million for just over a third of unlisted mobile phone operator Cell C Ltd.

Blue Label Telecoms said it would inject 4 billion rand ($263 million) to recapitalise the debt-laden company in exchange for a 35 percent stake.

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