Been through the latest MD&A and the debt restructuring is real but the subscriber churn is what's keeping…by @thuli_dd on $CCD

Been through the latest MD&A and the debt restructuring is real but the subscriber churn is what's keeping me cautious, they're losing ground to Vodacom and MTN on pricing power. The R23.35 level feels like people are pricing in a slow death rather than a turnaround, which might be harsh, but until they show sustainable EBITDA growth and stop burning cash on spectrum it's hard to make a bull case stick.