Blue Label Telecoms says it is undergoing a significant restructuring and wants to change its name to Blu Label Unlimited Group.
Blue Label Telecoms says it is undergoing a significant restructuring process that involves separating its telecoms and non-telecoms business units, and wants to change its name to Blu Label Unlimited Group.
Therefore, the board has resolved to recommend the name change to shareholders for their approval, deeming it a more fitting representation of the company’s evolving identity and business focus. Its JSE long and short names will change to “Blu Label Unlimited” and “Blu,” respectively. The JSE share code and ISIN will not change.
Blue Label recently announced that it was exploring various strategic options to unlock shareholder value, including listing Cell C separately on the JSE and increasing transparency with investors. Being listed on the JSE will compel Cell C to be more transparent and provide investors with reliable and regular financial reports.Sharenet portfolio manager Dylan Bradfield, a long-time supporter of the Blue Label investment case, welcomed these developments and believes there is more upside.
He explained that Blue Label’s core operation is a capital-light distribution business and should not be valued like a telecommunications company.
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