South Africa firm paves way to list Cell C mobile-phone provider

Blue Label Telecoms surged to the highest in almost seven years after it proposed restructuring of its business to ultimately enable a listing of Cell C, South Africa’s fourth-largest wireless carrier.

The restructuring plan is intended to “streamline operations, improve financial sustainability, and enhance Cell C’s strategic readiness for long-term growth and potential listing” on Johannesburg’s bourse, the company said in a statement Friday. The stock rallied as much as 11%.

Blue Label acquired a 45% stake in Cell C for R5.5 billion ($305 million) in 2017 during a restructuring process that also created three special purpose vehicles to store the then-distressed company’s debt. It further boosted its interest after a recapitalization at the end of 2022 that reduced Cell C’s debt from about R10 billion to R4 billion at the time.

Over the past 24 months, the strengthened Cell C executive-management team has put the business on a growth trajectory with improvements in operational and financial metrics, Blue Label said.

Blue Label Telecoms is the best-performing telecommunications stock on the FTSE/JSE Africa All Share Index this year, rallying 52% and outperforming peers MTN Group, Vodacom Group, and Telkom SA SOC.

The revamp and potential listing are subject to approval by the boards of Blue Label and Cell C, shareholders and regulators and favourable market conditions, it said.

© 2025 Bloomberg

Follow Moneyweb’s in-depth finance and business news on WhatsApp here.