Cell C’s Investor Pumps in $350million Independent Online Cell - TopicsExpress



          

Cell C’s Investor Pumps in $350million Independent Online Cell C, which is fighting to improve its position as South Africa’s third cellular network operator, has announced new equity investment of $350 million (R3.4 billion) from its Saudi parent, Oger Telecom.The company has also received a long-term financing package of R2.2bn from the Development Bank of Southern Africa and Nedbank.While Cell C’s subscriber base has jumped by more than 1 million customers to 11.5 million over the past 12 to 15 months, it has become expensive to acquire new customers, in a saturated market, who often do not generate cash for the company immediately, according to Alan Knott-Craig, the chief executive.
Posted on: Sun, 21 Jul 2013 02:49:34 +0000

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