Cell C weighs on Blue Label, which falls the most in more than 10 weeks
Shares drop 12% after company reported a full-year loss that was equal to more than double its market capitalisation
26 September 2019 - 18:53
Shares in Cell C’s biggest shareholder, Blue Label Telecoms, fell the most in more than 10 weeks after it reported a full-year loss that was equal to more than double its market capitalisation.
Blue Label, which owns 45% of Cell C, said on Thursday that trading losses and debt problems at the country’s third largest mobile operator helped push it into a R6.6bn loss for the year to end-May. The company has a market capitalisation of about R2.71bn. ..
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