South African Blue Label buys back 12% stake from Microsoft for ZAR 390mn.

By bne IntelliNews November 24, 2011
South African distributor of prepaid secure electronic tokens Blue Label Telecoms received the green light from its shareholders to buy back the 12% stake held by U.S. software maker Microsoft for ZAR 390mn, TechCentral reported. Microsoft bought the 91.9 million shares in 2007, when Blue Label listed on the Johannesburg Stock Exchange, for ZAR 6.75 per share, but it is now selling them at ZAR 4.25 per share. Blue Label plans to cancel the shares after the purchase. The two companies, which aimed to cooperate in exploring new business opportunities four years ago, have no further plans to work together.
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