The joint-CEOs acquire 10 million company shares worth R73.5 million through the close-out of a contract for difference.
The company swung to a R4.9 billion full-year loss after having to write down its Cell C stake to match its listed value.
The majority shareholder in SA’s fourth-biggest mobile operator aims to reduce its stake to between 20% and 30% in the telco, which recently listed on the JSE.
ITWeb TV: Levy brothers on lessons learnt from Cell C investment | Episode #139
In this episode of ITWeb TV, Blu Label joint CEOs, Mark and Brett Levy reflect on building the company from car radios and prepaid vouchers to a diversified technology giant, while discussing Cell C’s turnaround, entrepreneurship, energy ambitions, leadership lessons and South Africa’s digital future. #CellC #Entrepreneurship #JSE
The company layers AI onto its data lakes to drive sales, improve customer experience and generate insurance leads.
The company pins future earnings growth on Cigicell’s revenue assurance model, which aims to help municipalities recover electricity revenue.
Blu Label Unlimited declares an interim dividend of 43.56c for the six months to November, on the back of a solid financial position.
BluEnergy has been granted a multi-year energy trading licence by the National Energy Regulator of South Africa.
A total of 4 000 Cell C shares changed hands at R27 each just minutes after the mobile operator’s shares debuted on the JSE.
Now profitable, the mobile operator will pay dividends after the end of its financial year to May 2027.
Concurrently with its listing, Cell C will put aside R2.4 billion for a broad-based black economic empowerment company.
Following the Competition Tribunal’s approval, Blue Label achieves its almost decade-long goal of securing a majority stake in Cell C.
The firm starts making plans to exit Cell C through a separate JSE listing, in a complex restructuring that could result in both companies being debt-free.