Blue Label acquires cellular data provider

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Johannesburg - A unit of South Africa's Blue Label Telecoms, which provides pre-paid cellular airtime, has acquired cellular data provider RMCS in a deal worth around $30 million, Blue Label said on Tuesday.

Blue Label said the deal, which will be funded from existing cash, will open new distribution channels.

Blue Label said its TPC unit would pay at least 306.6 million rand ($30 million) for the business.

The deal should lift headline earnings per share by almost 5 percent to 67.31 cents per share, Blue Label said.

It shares were up 3.50 percent to 8.20 rand at 0910 GMT, outperforming Johannesburg's All-share index, which was 0.40 percent higher. - Reuters

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