February 27, 2017 / 11:27 AM / 5 months ago

BRIEF-Blue Label Telecoms updates on Cell C transaction

1 Min Read

Feb 27 (Reuters) - Blue Label Telecoms Ltd:

* Binding umbrella restructure agreement has been entered into by blue label, cell c, debt providers of cell c, an investor and others

* Under the agreement, maximum net borrowings of cell c will be reduced to approximately r6.0 billion

* Under the agreement, third party investor is to subscribe for 15% of share capital of cell c for r2.0 billion

* Under the agreement, blue label's subscription for 45% of share capital of cell c remains unchanged Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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