Cell C has obtained Independent Communications Authority of South Africa (Icasa) approval to transfer control of the relevant telecommunications licences that it holds to Blue Label subsidiary The Prepaid Company.
Although the licences will continue to be held by Cell C, Icasa’s approval to transfer control was required because this would be deemed to occur when the shareholding held by The Prepaid Company, exceeds 50% of the issued share capital in Cell C.
The is a crucial step in advancing Blue Label’s strategy to obtain control of Cell C.