Blue Label’s R5.5bn, 45% Cell C acquisition passes restructure hurdle

With several critical contracts entered into and the restructure of Cell C’s debt agreed, JSE-listed Blue Label is looking forward to wrapping up the final processes for a R5.5-billion deal that will see it take ownership of a 45% stake in South Africa’s third-largest mobile operator. Blue Label plans to close the deal by June 30, subject to the execution of detailed formal agreements and regulatory approvals.