Media releases

Binding term sheet with the buffet consortium

Monday, 25 February 2019

Blue Label wishes to announce that Cell C Limited (“Cell C”) has concluded a binding term sheet with The Buffet Consortium (“Buffet”) in terms of which Buffet shall, subject to the fulfilment of certain conditions precedent, become a minority shareholder in Cell C. With Buffet support the Cell C balance sheet will be bolstered and ensure Cell C's sustainable growth for the future.

A further detailed announcement shall be made once the parties have executed the transaction documents required to give effect to the principles recorded in the binding term sheet.

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