In the doldrums?
Cell C appears to be in trouble, but denies all allegations and claims it`s on track for exponential growth.
01 June 2007
South Africa's third mobile operator Cell C says it's on track to double its revenues and subscriber base by 2010. However, recent media reports allege the company is in financial trouble and downsizing, a rumour the company vehemently denies.
Then there is speculation that Saudi majority shareholder Oger Telecom is looking to sell its shareholding in Cell C, bailing out of a company that's had a hard time competing with established mobile giants Vodacom and MTN.
The latest blow to the company is the downgrading of Cell C's corporate family rating by Moody's Investor Service. Moody's also maintains a negative outlook on all ratings for Cell C. Could the rumours then be true?
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