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Government welcomes Blue Label acquisition of Cell C shares

The Minister of Communications, Ayanda Dlodlo, has welcomed the successful recapitalisation of mobile operator Cell C by Blue Label.

Cell C announced that Blue Label has completed its acquisition of a 45% stake in the mobile network, following a lengthy two-year process.

Minister Dlodlo said she is pleased that the transaction has significantly increased the South African ownership of Cell C, and further saved an estimated 2 500 direct and 15 000 indirect jobs.

“We recognise that the cost to communicate is too high for the majority of South Africans and government would like to see this reduced significantly, including the cost of data. To support the broadening of access to information for all our citizens, it is imperative to intensify competition in the South African telecommunications industry,” Dlodlo said.

Minister Dlodlo said government is committed to working with the private sector and labour towards inclusive growth and the development of the telecommunications sector. She wished Cell C well in its new journey.

The Department of Telecommunications and Postal Services said on Tuesday that the investment is significant because it saves Cell C and prevents the monopolisation of the telecommunications industry.

“It is when the industry is open and de-concentrated that we, as citizens, may realise the call for Data Must Fall, through effective competition and innovation that also improves the quality of service,” Minister of Telecommunications and Postal Services, Dr Siyabonga Cwele Minister Cwele, said.

“We call upon Cell C management to prioritise transformation, job creation and join our partnership to ensure that all South Africans are connected to affordable and reliable internet by the end of 2020.”

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