The Independent Communications Authority of South Africa (Icasa) has approved the transfer of ownership control of Cell C's spectrum, network, and operating licenses to Blue Label Telecoms. Cell C will retain ownership of the licenses and continue to operate, marking the final step in Blue Label's acquisition of the mobile operator. The transfer was initially applied for in late 2023 to comply with regulations and address concerns raised by existing shareholders, particularly CellSAf, who were not consulted before the application.
The Independent Communications Authority of South Africa ( Icasa ) has officially approved the transfer of control of Cell C ’s spectrum, network, and operating licenses to Blue Label Telecoms. Cell C first applied for the transfer of these licenses to its largest shareholder, Blue Label Telecoms subsidiary The Prepaid Company (TPC), in late 2023. This move was intended to comply with regulatory requirements.
Rumors that Icasa had approved the transaction caused a significant surge in Blue Label Telecoms' share price in the past week.\Cell C will retain ownership of the licenses after the transaction is finalized and will continue to offer the licensed services. This approval marks the final hurdle cleared for Blue Label to gain control of the mobile operator. In January 2024, Cell C announced that TPC had agreed to provide further financial support to Cell C. In return, TPC's non-controlling stake would increase. Cell C stated that TPC had injected R5.5 billion into the company, settled creditors' claims, and granted Cell C a R1.03 billion loan.\The transfer of control application encompasses Cell C’s individual electronic communications service (I-ECS) and network service (I-ECNS) licenses, as well as its radio frequency spectrum licenses. One of its oldest shareholders, CellSAf, raised objections to the proposed deal. Director and company secretary Nomonde Mabuya expressed concerns to MyBroadband, stating that CellSAf was not consulted about the transfer of control and that Cell C submitted the application without their knowledge. She emphasized that this matter was never discussed with them, and they only learned about it when they saw the ICASA government gazette published on December 6, 2023. Mabuya worries that Blue Label is divesting other shareholders of Cell C's key strategic assets, including its spectrum license.
CELL C BLU LABEL TELECOMS ICASA LICENSE TRANSFER SPECTRUM NETWORK SHAREHOLDERS REGULATION COMPETITION COMMISSION
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