Executives at JSE-listed technology group Blue Label Telecoms took a pay cut in the last financial year after failing to meet a number of targets.

Blue Label’s recent performance has been hampered by its investment in Cell C, in which it holds a 45% stake. The company said in September trading losses and debt problems at the operator were the reason for its R6.6bn loss for the period, more than double its market capitalisation of about R2.47bn.

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