South Africa Firm Paves Way to List Cell C Mobile-Phone Provider

Blue Label Telecoms Ltd. surged to the highest in almost seven years after it proposed a restructuring of its business to ultimately enable a listing of Cell C Ltd., South Africa’s fourth-largest wireless carrier.

The restructuring plan is intended to “streamline operations, improve financial sustainability, and enhance Cell C’s strategic readiness for long-term growth and potential listing” on Johannesburg’s bourse, the company said in a statement Friday. The stock rallied as much as 11%.