0
Wireless

Blue Label says Cell C was bad investment but still hopes for turnaround

Tuesday 15 October 2019 | 09:20 CET | News
Blue Label Telecom co-chief executive officer Brett Levy has admitted that the company's investment in Cell C was a bad move, but he remains hopeful that the mobile operator can turn things around as it hunts for a new equity partner, CNBC Africa reported. Blue Label published its full year results at the end of September, reporting a decline in earnings for the year ended May, including a 3 percent drop in group revenue to ZAR 25.9 billion as losses incurred by Cell C weighed. 

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: Mobile & Wireless
Companies: Blue Label Telecoms / Cell C
Countries: South Africa
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Blue Label declares H1 EPS ranges in updated trading statement

Published 25 Feb 2020 09:41 CET | South Africa
Blue Label Telecoms has reiterated in an updated trading statement that it expects its basic, headline and core headline earnings ...

Blue Label completes sale of VAS operations and 3G Mobile handset distribution

Published 17 Feb 2020 11:10 CET | South Africa
Blue Label said it has completed the sale of its interests in Blue Label Mobile (VAS Operations) to DNI, an investment holding ...

Cell C defaults on interest payments

Published 29 Jan 2020 09:42 CET | South Africa
South African operator Cell C announced that it has defaulted on the payment of interest on its ZAR 2.7 billion loan, which was ...

Blue Label expects higher earnings in H1

Published 27 Jan 2020 09:48 CET | South Africa
Blue Label Telecoms said that its basic, headline and core headline earnings per share for the six months to 30 November 2019 are ...

Blue Label Telecoms' shareholders back disposals to DNI

Published 05 Dec 2019 10:55 CET | South Africa
Shareholders of South Africa's Blue Label Telecoms, which has lost almost half of its value since January, have unanimously ...

Cell C offers Fantastic Black Friday deals on 29 November only

Published 29 Nov 2019 11:25 CET | South Africa
South African operator Cell C has introduced what it calls Fantastic Black Friday deals,available only on 29 November. They ...

ICASA says yet to be notified of reported Cell C acquisition

Published 14 Nov 2019 11:27 CET | South Africa
The Independent Communications Authority of South Africa (ICASA) says it has not been notified of any offer to buy Cell C. In a ...

Cell C makes board changes

Published 25 Oct 2019 10:42 CET | South Africa
South African operator Cell C has announced a number of changes to its board, including the appointment of a new chairman and ...

Blue Label FY revenue drops by 3% to ZAR 25.9 bln

Published 27 Sep 2019 10:18 CET | South Africa
South Africa's Blue Label reported a decline in earnings for the year ended 31 May, including a 3 percent fall in group revenue ...

Blue Label says Cell C has a great future

Published 27 Sep 2019 10:05 CET | South Africa
Blue Label Telecoms co-CEO Brett Levy has stated that Cell C has a bright future, despite the mobile operator's current financial ...

Cell C reports FY net loss of ZAR 8 bln amid impairments but says turnaround strategy progresses

Published 27 Sep 2019 10:01 CET | South Africa
South African operator Cell C has reported a net loss of ZAR 8.03 billion for the year ended 31 May compared with a net loss of ...

Cell C confirms Stevenson as CEO

Published 08 Aug 2019 09:57 CET | South Africa
South African operator Cell C has appointed Douglas Craigie Stevenson as chief executive officer (CEO), effective immediately. ...