Bleeding Cell C could still recoup losses, says Blue Label

Following another grim set of results for debt-ridden Cell C – its annual revenue fell from R13.95 billion in the previous year to R13.3 billion, and it reported a net loss before taxation of almost R2.5 billion – its key shareholder, technology group Blue Label, continues to hope that repositioning the business as "capital light" will help to recoup losses.

According to one analyst, Blue Label could also benefit from the protracted recapitalisation programme expected to conclude next month, which will see its stake in Cell C increase from 45% to 49% after the proposed debt restructure.