https://www.engineeringnews.co.za

Blue Label concludes 3G acquisition after Competition Tribunal thumbs up

19th January 2018

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

     

Font size: - +

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.

“Blue Label is pleased to advise shareholders that the acquisition by The Prepaid Company of the issued share capital of 3G, for a purchase consideration of R1-billion, has been approved by the Competition Tribunal,” the company said in a statement last month.

This was the last condition to the transaction, which will be implemented next month.

“3G, being a supplier and financier of handsets and tablets for mobile network operators, adds an exciting business opportunity to the Blue Label stable of companies and, with its ability to leverage off Blue Label’s network, 3G will be Blue Label’s new platform for expansion into new markets and into different hardware products, in addition to its current business,” Blue Label concluded.

Edited by Martin Zhuwakinyu
Creamer Media Magazine Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Industrial Nozzles & Systems (Pty) Ltd
Industrial Nozzles & Systems (Pty) Ltd

Industrial Nozzles & Systems (Pty) Ltd (Est. 2000) exclusive representative in Southern Africa for LECHLER GmbH (Est. 1879) - Europe's leading...

VISIT SHOWROOM 
ATI Systems
ATI Systems

ATI systems comprises five divisions: electrical assemblies, drives and controls, feedback sensors, enclosures, and strip guiding.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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







301

sq:0.053 1.011s - 122pq - 2rq
Subscribe Now