Unlike its whisky namesake, Blue Label Telecoms has proved less than rich and rewarding this year. With less than a month to go before the company releases its year-end results, Blue Label’s already battered shares have come in for a fresh bruising, taking this year’s losses to date to 44% and its share price to a three-year low. The company isn’t alone in losing ground but its losses are worse than those of its peers in the sector: Vodacom has lost 13% and MTN is down 22%, and Telkom has in fact gained 2.2% in the year to date. Blue Label’s slide has also triggered a potential margin call on a series of leveraged positions taken out by brother CEOs Brett and Mark Levy in 2008 and 2015. They each used 14 million shares to buy contracts for difference (CFDs) in Blue Label stock, and in a statement last week the company said they "intend to buy out their position once the current closed period has ended" and will cover any margin call resulting from the share price plunge. What’s more...

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