Head Topics

Cell C drags Blue Label’s shares down to lowest level

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 63%

South Africa Headlines News

Decline in the stock’s price slashes R2bn off the holding company’s market capitalisation

Cell C’s fortunes have dragged down the value of its largest shareholder, JSE-listed Blue Label Telecoms, to its lowest close since the company listed in November 2007.

Shares in Blue Label closed 3.51% down on Monday, bringing the company’s market capitalisation to R3.015bn. This is more than R2bn lower than the R5.5bn paid by the company for its 45% stake in SA’s third-largest mobile operator.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Robbers hit Blue Route Mall in Cape TownBlue Route Mall management confirmed that a robbery took place at one of their stores on Monday afternoon.
Source: TimesLIVE - 🏆 28. / 59 Read more »

WATCH: Tap, fire, PrEP - check out the little blue pill that's been missing from your Grindr gameGetting busy on Grindr? You might want to think about the little pill that could protect you from HIV infection | Bhekisisa_MG
Source: News24 - 🏆 4. / 80 Read more »

Google pulls plug on service that showed carriers their weakest linksThe decision to shut down the program is the latest example of a tech company opting to end a data-sharing service rather than risk a breach or further scrutiny from MPs
Source: BDliveSA - 🏆 12. / 63 Read more »

Prince Andrew denies involvement in Epstein sex scandalEpstein committed suicide in a Manhattan jail cell earlier this month while being held on sex-trafficking charges.
Source: eNCA - 🏆 49. / 51 Read more »

Western Cape dam levels rise to nearly 65%In the Karoo region of the province, however, the average dam level is still below 25%.
Source: TimesLIVE - 🏆 28. / 59 Read more »

Mbalula labelled 'sellout' over alleged R50K payment from CR17 campaign | IOL NewsIt was a bad day for Fikile Mbalula when on Sunday news reports alleged that he received a R50K payment from the CR17 campaign ...
Source: IOL - 🏆 46. / 51 Read more »