Blue Label Telecom signs deal to lower Cell C's debt

South Africa's Cell C and its creditors have agreed a deal with Blue Label Telecoms and an unnamed investor that would lower the mobile phone firm's debt to R6-billion ($463-million), Blue Label said in a statement. Cell C is South Africa's third-0largest mobile phone company but a debt burden of about R20-billion has hampered its growth in a maturing phone market where rivals Vodacom and MTN are much bigger.