CAPE TOWN - Cell C remains unclear why has ICASA reached conclusions on Cell C's recapitalisation transaction. In this regard, the company says it is in the process of submitting detailed information, which will clarify Cell C's position on the matter.
The statement by Cell C notes that they have received extensive legal advice, and they will ensure that the recapitalisation doesn't lead to transfer of power between Cell C and Blu Label Telecoms.
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The Independent Communications Authority of South Africa, on 30 August, released a statement confirming that it has received a notification from Cell C regarding the change of licensee information, therefore, change of shareholding.
Cell C is of the view that once ICASA, or whomever ultimately considers the transaction, has a proper understanding of it (which Cell C is at pains to provide), it will be clear that there has not been any transfer of control and that no approval is required, the statement reads.
- BUSINESS REPORT ONLINE