Blue Label Telecoms' shareholders back disposals to DNI

Thursday 5 December 2019 | 10:55 CET | News
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Shareholders of South Africa's Blue Label Telecoms, which has lost almost half of its value since January, have unanimously approved the sale of two assets for some ZAR 1 billion, Bloomberg reported. They approved the sale of 85 percent of its stake in subsidiary Blue Label Mobile for ZAR 450 million to DNI, a SIM card distributor that is partly owned by Net 1. Shareholders also approved the sale by its subsidiary The Prepaid Company of its interest in mobile phones and tablets distributor 3G Mobile for ZAR 544 million, again to DNI.

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Categories: Mobile & Wireless
Companies: Blue Label Telecoms / Net 1
Countries: South Africa
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