Blue Label has completed its acquisition of 3G Mobile through its subsidiary The Prepaid Company.
Blue Label successfully completed the initial acquisition of 47.37% of the issued share capital of 3G Mobile for R900 million in August.
It has now received permission to acquire the remaining 52.63% of the issued share capital of 3G Mobile for R1 billion.
“This was the last condition to the transaction, which shall be implemented in February 2018,” said Blue Label.
3G Mobile is a distributor of mobile devices to retailers and cellular networks.
“3G will be Blue Label’s new platform for expansion into new markets and into different hardware products, in addition to its current business.”