Blue Label Telecoms to Buy 45% Stake in Cell C for 5.5b Rand

October 5, 2016

Blue Label, through unit The Prepaid Company Proprietary, to participate in recapitalization of Cell C, which will result in TPC holding 45%, for 5.5b rand.

* Consideration to be settled by vendor consideration placement for 2b rand with Net1 UEPS Technologies at 16.96 rand/share and 3.5b rand from available cash, funding facilities;
* Effective date of proposed transaction is Nov. 18. Source: Bloomberg