South Africa's wealthy Levy brothers lose $97 million in ten months on Cell C woes
South African billionaire brothers Mark and Brett Levy have lost a combined R1.58 billion ($97.1 million) in ten months after the Cell C IPO disappointed investors.
Brett Levy
South Africa's billionaire Levy brothers wrote down $33 million on Cell C and are now selling down their stake
Blue Label co-CEOs Brett and Mark Levy revealed what went wrong with their R5.5 billion Cell C bet and confirmed Blu Label is now looking to reduce its controlling stake in the mobile operator.