JSE-listed Blue Label says its acquisition of the remaining 52.63% of 3G Mobile through its subsidiary, The Prepaid Company, has been approved by the Competition Tribunal.
3G Mobile is a distributor, and financier, of mobile devices and handsets to major retailers and cellular network providers.
“This was the last condition to the transaction, which shall be implemented in February 2018, it said.
It follows the completion of the initial acquisition by TPC, of 47.37% of the issued share capital of 3G for a purchase consideration of R900 million in August.
“3G, being a supplier and financier of handsets and tablets for mobile network operators, adds an exciting business opportunity to the Blue Label stable of companies, and with its ability to leverage off Blue Label’s network, 3G will be Blue Label’s new platform for expansion into new markets and into different hardware products, in addition to its current business, the company said.