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  • Finweek - English

    Simon’s stock tips

    Oct 04, 2019 5 minutes
    By Simon Brown

    BLUE LABEL TELECOMS

    Ouch!

    Blue Label Telecoms’ results for the year to 31 May were a horror show, which saw the company write down the value of its 45% holding in Cell C to zero. This after having paid some R5.5bn for it just a few years ago. It comes on the back of a reported loss of around R8bn for Cell C to the year ending March 2019. The bigger issue is that they’re now also having to sell some cash-producing assets to generate much needed cash flow to pay down debt. DNI-4PL is buying Blue Label’s stakes in Blue Label Mobile, 3G Mobile and other businesses. The price received is just short of R1bn, but these businesses generate over R300m of profit after tax. So, the price is crazy

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