https://newsletter.en.creamermedia.com

Undisclosed group eyes Blue Label buy-out

1st October 2014

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

Font size: - +

An undisclosed company has made a play for Blue Label Telecoms, with discussions now under way, the JSE-listed telecommunications group said on Wednesday.

In a cautionary announcement to shareholders, Blue Label stated that a nonbinding expression of interest (EoI) to acquire all the issued shares in the company had been received.

However, the company cautioned that the EoI and related talks were not an indication of a firm intention or offer and it was “possible” that no offer could emerge.

Brothers and joint CEOs Brett Levy and Mark Levy founded the Johannesburg-headquartered group in 2001, with operations now spanning Mexico, South Africa, India and the UK, and the employee complement growing to over 1 000.

In the financial year ended May 31, Blue Label posted a 6% rise in headline earnings a share to 67.98c, while earnings before interest, taxes, depreciation and amortisation increased 10% to R788-million.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

 

Showroom

John Deere (Pty) Ltd
John Deere (Pty) Ltd

In 1958 John Deere Construction made its first introduction to the industry with their model 64 bulldozer.

VISIT SHOWROOM 
Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 13 December 2024
Magazine round up | 13 December 2024
13th December 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.246 0.343s - 189pq - 2rq
Subscribe Now