Blue Label in acquisition talks with unnamed suitor

JSE-listed pre-paid airtime provider Blue Label Telecoms has revealed that it had received an acquisition offer from an unnamed company. According to a Stock Exchange News Service (SENS) announcement from the company, ‘shareholders are advised that the company has received a non-binding expression of interest for the acquisition of all the issued shares in the company. The board is engaged in discussions with the party expressing interest and will update shareholders whenever appropriate.’ Further, the press release advises shareholders to exercise caution when dealing in their Blue Label shares.