Blue Label Telecoms the largest distributor of prepaid airtime and data in South Africa, will pay 5.5 billion rand ($400 million) for a 45 percent stake in debt-laden mobile firm Cell C Ltd, it said on Wednesday.
Telkom SA SOC Ltd. is seeking to buy mobile-phone operator Cell C Pty Ltd. for less than the 22 billion rand ($1.6 billion) value placed on the South African company by its owners, according to a person familiar with the situation.
Telkom SA SOC Ltd., South Africa’s biggest landline provider, sees a potential acquisition of closely held wireless company Cell C Pty Ltd. as a way to grow its own mobile-phone business.
South Africa’s Competition Commission has rejected a networking sharing transaction proposed by operators Telkom and MTN South Africa.
Vodacom Group Ltd., the African unit of Vodafone Group Plc, was granted provisional approval by South Africa’s Competition Commission to buy Internet provider Neotel Pty Ltd. for 7 billion rand ($576 million).
Cell C Pty Ltd. is exploring options for the third-largest South African wireless carrier including a sale to domestic competitors, according to two people familiar with the matter.