Blue Label shareholders fully behind disposals
Unanimous vote in favour of the sale of two assets that will net telecom service provider R1bn
04 December 2019 - 12:16
Shareholders of JSE-listed Blue Label Telecoms, which has lost almost half of its value since January, have unanimously approved the sale of two assets for about R1bn, in an effort to protect its core business and pay off debts.
The first sale involved the disposal of 85% of its stake in subsidiary Blue Label Mobile for R450m to DNI, a SIM card distributor that is partly owned by Net1...
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