Market Wrap - Stock Pick — Blue Label Telecoms

Robert Cameron from Thebe Stockbroking chose Blue Label Telecoms as his stock pick of the day."My stock pick for today is Blue Label, basically they paid 5,5 bn for a 45% steak which sunk Blue Label from R12 to R2,55 - it's shocking. They were going to get a "get out of jail free card" if Telkom did take Cell C off their hands and they could focus more on core operations. Blue Label is looking to offload two other mobile businesses which is also doing to de-lever their balance sheet. If you look at what they reported in September, Blue Label earned R900 million, and that's a growth of 25%