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.
