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Update on the acquisition of 3G Mobile Proprietary Limited (“3G”)
Blue Label Telecoms Limited
(Incorporated in the Republic of South Africa)
(Registration number 2006/022679/06)
Share code: BLU ISIN: ZAE000109088
(“Blue Label” or the “Company”)
Update on the acquisition of 3G Mobile Proprietary Limited (“3G”)
Blue Label shareholders (“Shareholders”) are referred to the announcement released by the Company on the Stock Exchange News
Service of the JSE Limited on Monday, 7 August 2017 regarding the successful completion of the initial acquisition by Blue Label’s
wholly owned subsidiary, The Prepaid Company Proprietary Limited (“TPC”), of 47.37% of the issued share capital of 3G for a purchase
consideration of R900 million.
Blue Label is pleased to advise Shareholders that the acquisition by TPC of the remaining 52.63% of the issued share capital of 3G, for
a purchase consideration of R1.0 billion, has been approved by the Competition Tribunal. This was the last condition to the transaction,
which shall be implemented in February 2018.
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.
By order of the board
Sandton
11 December 2017
Financial Adviser and Sponsor
Investec Bank Limited
Legal Adviser to Blue Label
Werksmans Inc
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