Blue Label Telecoms has announced that it is considering an offer to be fully acquired.<\/p>\n
The telecoms group, a distributor of pre-paid vouchers and other mobile services, said that it has received a \u201cnon-binding expression of interest\u201d from an unnamed company for the acquisition of all its issued shares.<\/p>\n
\u201cThe board is engaged in discussions with the party expressing interest and will update shareholders whenever appropriate,\u201d the group said in a statement.<\/p>\n
The company added, however, that the non-binding nature of the discussions does not constitute a firm intention to make any offer \u2013 and it is possible that no offer may result from the process.<\/p>\n
\u201cAccordingly, pending further announcements, shareholders are advised to exercise caution when dealing in Blue Label shares,\u201d it said.<\/p>\n
In August, Blue Label reported an 8% rise in its dividend per share to 27 cents for the period ended May 2014, on the back of a rise in profits.<\/p>\n
Revenue improved to R19.4 billion, from R18.98 billion before, while group operating profit was up to R723 million, from R646 million in 2013.<\/p>\n
Blue Label takes a Mexican knock<\/a><\/strong><\/p>\n