Verticals

Feeling the blues

When Blue Label said it was planning to take a holding in Cell C, everyone backed the move. But when they closed the deal, its share price fell. Why?

16 October 2018

Mark and Brett Levy are annoyed. The joint CEOs of Blue Label have had enough of defending troubled mobile operator Cell C. Speaking at a recent briefing, the brothers were once again asked to justify taking a sizable stake in a company that has always struggled against rivals Vodacom and MTN.

Taking questions on Cell C has clearly become frustrating. Brett Levy even pointed out that when a question was asked about the downscaling of its India operation, it was one of only four questions out of about 200 it had taken in the past year or so that was not about Cell C.

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