Cell C is officially no longer technically insolvent, according to the company’s first financial results since its listing on the Johannesburg Stock Exchange.
Cell C is one of South Africa’s largest mobile operators, but has faced extreme challenges over the last decade.
The company was acquired by Blue Label Telecoms in an extremely complex transaction amid the operator’s severe financial difficulties.
For several years, the company was technically insolvent, meaning that its liabilities exceeded its total assets.
Companies that are technically insolvent will not be able to settle their liabilities with their assets in the event of a liquidation.
For…