Blu Label Secures Conditional Approval to Increase Stake and Take Control of Cell C
Upon completion of the transaction, TPC’s shareholding in Cell C will rise from 49.53% to 53.57%, making TPC the controlling shareholder of the South African mobile operator.
Blu Label Unlimited Group Limited (formerly Blue Label Telecoms Limited) has announced that its wholly-owned subsidiary, The Prepaid Company Proprietary Limited (TPC), has received conditional approval from the Competition Tribunal to acquire an additional 4.04% shareholding in Cell C Limited from Cedar Cellular Investments 1 (RF) Proprietary Limited.
Upon completion of the transaction, TPC’s shareholding in Cell C will rise from 49.53% to 53.57%, making TPC the controlling shareholder of the South African mobile operator.
The company stated that this development marks a significant milestone in advancing Blu Label’s strategic review and proposed restructuring, strengthening its operational capabilities and long-term objectives in the telecommunications sector.
