Cell C denied on Monday its shares were for sale for the low price of R3.50 and that its joint venture with Virgin Mobile was valued at R500-million.

The denial was made in response to the discovery of an email circulated by Buyers Equity Guide and its owner, Michael Berk, claiming a "unique opportunity to buy shares at these low prices of R3.50".

The email further claims that Cell C will be listing on the JSE Securities Exchange in 2006 and that its 50/50 joint venture with Virgin Mobile is valued at R500-million. These statements are patently untrue, Cell C said.

Cell C and Ubambo, one of Cell C's BEE shareholders, categorically stated that the e-mails circulated by Michael Berk and/or Buyers Equity Guide contain inaccurate, ambiguous and misleading information.

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