Cell C drags Blue Label’s shares down to lowest level
Decline in the stock’s price slashes R2bn off the holding company’s market capitalisation
19 August 2019 - 19:21
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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