JSE-listed Blue Label Telecoms seems like a great business on paper. So, why have investors dumped its shares?
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Blue Label Telecoms has agreed to acquire control of Cell C, taking its shareholding beyond 50%.
Newly appointed Cell C CEO Jorge Mendes has no intention of starting a price war with his bigger rivals in telecoms.
Blue Label Telecoms has cautioned shareholders that Cell C will be a drag on its full-year earnings.
Less than a year after taking the reins from Zaf Mahomed, Cell C chief financial officer Lerato Pule has resigned.
Cell C has completed the migration of its radio access network to MTN and Vodacom.
Cell C CEO Douglas Craigie Stevenson will step down from the mobile operator at the end of March.
Blue Label Telecoms, which owns about 49.5% of Cell C, looks set to make an offer to take control of the company in the coming months.
Blue Label Telecoms warned that its interim results for the six months to end-November 2022 will show up to a 99% plunge in headline earnings per share.
Months after securing a deal to recapitalise its balance sheet, Cell C has announced it has hired a chief restructuring officer.