Cell C makes Chinese loan

2010-08-31 11:27

Johannesburg - Cellphone operator Cell C has taken a €240m loan (about R2.2bn) from the China Development Bank, it said on Tuesday.

"Draw down under the facility will be made after the satisfaction of certain conditions precedent," the company said in a statement.

Cell C expected to complete these over the next few weeks.

The company intended to use the money to restructure its debt.