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| Home : Net1 finalizes financing for Blue Label Telecoms strategic investment |
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Oct 26
2016 |
Net1 finalizes financing for Blue Label Telecoms strategic investment |
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JOHANNESBURG, SOUTH AFRICA--(Marketwired - October 25, 2016) - Net 1 UEPS Technologies, Inc. ("Net1" or the "Company") (NASDAQ: UEPS) (JSE: NT1) today announced that it has procured the necessary bank funding to complete its previously-announced strategic investment of an approximate 15% equity stake in Blue Label Telecoms Limited, a JSE-listed company which is a leading provider of prepaid electricity and airtime in South Africa ("Blue Label"). The Company expects to use a combination of existing cash reserves, a portion of the loan facilities and the previously-announced equity placement to facilitate payment of the ZAR 2 billion subscription price. |
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| Source:http://www.marketwired.com/mw/release.do?id=2169530&sourceType=3 |
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