Corporate action looming at iBurst
Telecommunications operator iBurst is in play and a deal could be announced within the next few weeks, according to several well-placed industry sources. TechCentral has not been able to establish which company is courting iBurst, which is owned by Wireless Business Solutions Holdings (WBS), but it’s
8ta struggles in competitive market
Earlier this week, Blue Label Telecoms, the largest distributor of prepaid vouchers airtime in SA, revealed that 8ta accounts for well under 1% of its airtime revenues. Vodacom, MTN and Cell C contribute 53%, 34% and 10% respectively. There was little doubt 8ta, which was launched in 2010 after Telkom disposed of
Cash-rich Blue Label eyes Mexico, India
JSE-listed telecommunications distribution specialist Blue Label Telecoms generated R795m in cash from operating activities in the six months to 30 November 2011, helping push accumulated cash resources on its balance sheet to R2,3bn and giving the company a war chest for its offshore expansion plans
Telkom faces R4bn Multi-Links damages claim
African Prepaid Services Nigeria (APSN), a now-mostly-dormant company in which JSE-listed Blue Label Telecoms has an effective 37% stake, is claiming US$481m, or about R4bn at the prevailing exchange rate, in damages from Multi-Links, Telkom’s former Nigerian
Blue Label, Microsoft divorce goes ahead
Blue Label Telecoms shareholders on Tuesday approved a plan by the JSE-listed company to buy the 12% of the company’s shares held by US software maker Microsoft in a deal worth R390m. Microsoft is selling the shares at a loss. It bought 91,9m shares in 2007 for R6,75/share and is selling
Blue Label, Microsoft part ways
JSE-listed Blue Label Telecoms is buying back the 12% stake Microsoft bought in it in 2007. At the same time, Microsoft SA MD Mteto Nyati is stepping down from Blue Label’s board of directors. Microsoft is selling the shares at a loss. It bought them for
End of the line for Multi-Links
Telkom has pulled the plug on a plan to sell the wireless division of its Nigerian subsidiary, Multi-Links, to Visafone for US$52m and will stop funding the operation with immediate effect. Liquidation may follow. The decision to
Blue Label exits Nigeria
JSE-listed Blue Label Telecoms said on Monday it has decided to terminate its business activities in Nigeria. This follows the cancellation of a contract in that country with Telkom subsidiary Multi-Links. Blue Label co-CEO Mark Levy says the decision will allow it
Blue Label wants Telkom to cough up
Blue Label Telecoms is preparing a claim to try to recover an unspecified amount of damages it says it has suffered after losing an exclusive contract with Telkom’s failed
Mineworkers get m-banked
Financial services company Ubank, formerly known as Teba Bank, has partnered with JSE-listed Blue Label Telecoms to provide mobile banking to its customers, consisting
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