Cell C’s largest shareholder, the JSE-listed Blue Label Telecoms, said on Friday that The Buffet Consortium plans to buy a minority shareholding in Cell C that will bolster the mobile operator’s balance sheet.
Jose Dos Santos will step down as CEO of Cell C at the end of February, the mobile operator’s largest shareholder, JSE-listed Blue Label Telecoms, said in a statement on Friday.
Altron’s continued turnaround, under the leadership of CEO Mteto Nyati, delivered the best performance among technology shares listed on the JSE in 2018, TechCentral’s annual review of the sector shows.
Telkom is considering making an offer to buy a majority stake in Cell C that would lead to a combination of South Africa’s third- and fourth-largest mobile phone companies, according to people familiar with the matter.
Blue Label Telecoms, taking advantage of its low share price, has bought back almost 3.5% of the company’s issued share capital, it said on Monday.
Blue Label Telecoms chairman Larry Nestadt has acquired millions of rand worth of shares in the company in recent weeks as its stock price continued to plumb levels last seen a decade ago.
TechCentral’s interview with Brett and Mark Levy, the co-CEOs of Blue Label Telecoms, was by far TechCentral’s most popular podcast in September 2018, according to statistics from platform partner iono.fm.
In this episode of the podcast, Duncan McLeod interviews Blue Label Telecoms co-founders and co-CEOs Brett and Mark Levy on the future of the JSE-listed group.
As Blue Label’s share price on Wednesday fell to the same level as its debut price on the JSE 11 years ago, the company’s management team has moved to assure the market that its acquisition of 45% of Cell C was not only well thought through but will deliver the expected returns.
A day after falling 8% on the back of interim results published by Cell C, Blue Label Telecoms shares again took a battering on Wednesday after the group published full-year results.