June 1, 2017 / 5:15 AM / in 5 months

BRIEF-Net 1 UEPS says to continue to pursue Cell C stake acquisition

June 1 (Reuters) - Net 1 UEPS Technologies Inc

* Net 1 ueps technologies-will continue to pursue acquisition of 15% interest in issued share capital of cell c (pty) ltd (“cell c”) for of zar 2 billion​

* Net 1 ueps- ‍blue label telecoms, co’s unit agreed net1 sa will not subscribe for shares in blue label, subscription agreement has been terminated​

* Net 1 ueps - released from zar 2 billion guarantee issued by firstrand bank limited, acting through rand merchant bank division, in favour of blue label​

* Does not intend to issue any shares of common stock to fund these two investments

* Net 1 ueps-continues to make substantial progress toward finalizing terms to buy non-controlling interest in dni-4pl contracts

* Intends to settle purchase consideration for these two investments using a combination of surplus cash and debt

* Net 1 ueps- ‍blue label telecoms, co’s unit agreed net1 sa will not subscribe for shares in blue label; subscription agreement has been terminated​‍​ Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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