Blue Label says inferring Cell C value based on Gramercy transaction is inaccurate

Daniel Puchert

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Cell C owner explains why it is worth more than R98 million

Blue Label Telecoms recently announced that its subsidiary, The Prepaid Company, will pay R6 million to acquire an additional 6.09% stake in Cell C, representing 88,939,299 shares, from credit investor Gramercy.

This indicates a valuation for Cell C of just over R98.5 million. However, Blue Label has told MyBroadband that inferring an equity value based on the transaction would be inaccurate.
 
My... there are far, far better stocks to buy with that R6 million. Someone must love the pain.
 
I think they are on to something. They’ll eventually own cell c outright with huge debt owed to themselves which will be a tax buffer
 
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