The Independent Communications Authority of South Africa (Icasa) has approved transfer of control of Cell C’s relevant telecommunications licences to Blue Label subsidiary The Prepaid Company.
This is a significant milestone for JSE-listed Blue Label and a crucial step in advancing its strategy to obtain control over Cell C.
“Although the licences will continue to be held by Cell C, Icasa's approval to transfer control of Cell C's licences was required because a transfer of control would be deemed to occur when the shareholding held by The Prepaid Company, exceeds 50% of the issued share capital in Cell C,” Blue Label said in an update to its shareholders.