SA mobile operator Cell C's subscribers jump 59% y/y in H1 2014 [IntelliNews - Weekly Reports]
(IntelliNews - Weekly Reports Via Acquire Media NewsEdge) South Africa's third largest mobile operator Cell C, which is majority owned by Dubai-based Oger Telecom, saw its subscriber base climb 59% y/y to 18.1mn at end-June. As of end-April 2014, Cell C had 16.6mn clients, up from 13.6mn at end-2013, compared to Vodacom's 32.5mn and MTN's 24.9mn.
The rising subscriber base is good news for the company which is seeking to extend by three years the maturity of EUR 77.4mn worth of senior secured notes due July 2015, according to earlier reports.
Cell C also reported a 10.5% y/y increase in revenue in H1, it said. Last week, Cell C cut the price of its promotional prepaid plan, introduced in April, from 66c/minute to 50c/minute.
In May, Cell C said it had budgeted ZAR 2.3bn (USD 219mn) for capital expenditure for 2014, targeted mainly at network enhancements that should bring more stability into the network, increase the coverage and improve the quality of services.
It has been speculated that Cell C should merge with the country's fourth biggest mobile carrier, Telkom Mobile, in order to cut costs by consolidating increasing infrastructure expenses.
(c) 2014 Emerging Markets Direct Media Holdings LLC Provided by SyndiGate Media Inc. (Syndigate.info).
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