JSE-listed Blue Label Telecoms says that talks around its possible acquisition are still ongoing.<\/p>\n
The telecoms group, a distributor of pre-paid vouchers and other mobile services, said in October, that it received a \u201cnon-binding expression of interest\u201d\u00a0from an unnamed company for the acquisition of all its issued shares.<\/p>\n
In a cautionary announcement on Tuesday (11 November), Blue Label said: “shareholders are advised that discussions are still on-going”.<\/p>\n
The company warned in October 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
Shares in Blue Label were up marginally in trade on Tuesday morning, to R10.16, giving the group a market cap of R6.8 billion.<\/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 in acquisition talks<\/strong><\/a><\/p>\n Blue Label lifts dividend by 8%<\/a><\/strong><\/p>\n Blue Label buys into mobile services provider<\/a><\/strong><\/p>\n