JSE-listed Blue Label Telecoms is going back to basics after mobile operator Cell C, in which it holds a 45% interest, drove the group into the red for the financial year ended May 31. Shares in the embattled group contracted 10% by mid-Thursday afternoon as joint-CEO Brett Levy outlined how the group’s underperformance led to write-offs and trading losses that decreased its headline earnings by R3.97-billion.