Investors who put their money on the underdog of South African telecoms at the beginning of the year currently have more cause for celebration than those who invested in the big guns.
People who bought shares in Cell C’s majority shareholder, Blue Label, at the start of 2024 would have seen the value of their investments increase substantially more than those who bought shares in Vodacom, MTN, and Telkom.
That 32.2% improvement means R1,000 in Blue Label shares bought at the start of the year would be worth about R1,322 roughly nine months later. Cell C has also expressed its ambition to take back the position of third-biggest mobile operator from Telkom, using its roaming agreements with Vodacom and MTN to offer customers the best of both networks.
Vodacom’s share price has been on a rebound in the past few months after struggling for most of the first half of the year. As the country’s dominant mobile player, Vodacom’s performance is often deeply intertwined with the country’s economic prosperity.
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