Blue Label hopes recapitalisation will reduce Cell C drag on market view
Mobile network's woes unfairly skew perception of Blue Label's real worth, says 45% shareholder
27 February 2022 - 07:11
With the long-awaited fundraising programme for Cell C weighing heavily on Blue Label, which owns 45% in the mobile network company, the joint CEOs of the JSE-listed prepaid group raised their frustrations this week about the negative sentiments from investors.
Blue Label bought the stake in Cell C for R5.5bn five years ago, but the investment turned into a damp squib as Cell C struggled to be profitable amid high debt and heightened competition in the sector...
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