Blue Label concludes 3G acquisition after Competition Tribunal thumbs up

JSE-listed Blue Label has secured Competition Tribunal approval for the acquisition of the remaining 52.63% of mobile device distributor 3G Mobile. The local telecommunications firm had, through its The Prepaid Company subsidiary, acquired 3G Mobile for R1.9-billion, with the initial acquisition of 47.37% of the issued share capital bought for R900-million, followed by the acquisition of the remaining 52.63% for R1-billion.