Blue Label sells its Blue Label 3G Mobile to reduce its debt

SOUTH AFRICA – Telecommunications group Blue Label Telecoms, Cell C’s largest shareholder, is selling its interest in Blue Label Mobile Group to investment holding company DNI 4PL Contracts, which would also acquire Blue Label subsidiary The Prepaid Company’s (TPC’s) interest in 3G Mobile, to settle its debts. “Over the past two years, significant investments were made, necessitating an increase in interest-bearing debt in order to ensure that the group’s working capital requirements continued to be met. Accordingly, the Blue Label board of directors have decided to deleverage the business in…

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