Cell C’s fortunes have dragged down the value of its largest shareholder, JSE-listed Blue Label Telecoms, to its lowest close since the company listed in November 2007.

Shares in Blue Label closed 3.51% down on Monday, bringing the company’s market capitalisation to R3.015bn. This is more than R2bn lower than the R5.5bn paid by the company for its 45% stake in SA’s third-largest mobile operator.

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