Sounds like they have spent over R20m on MIBLI. Too much ..too late and probably on the wrng platform. Vodacom launching mPESA. Does not require software to be downloaded on phone and uses USSD - technology that most phones have these days. My view - the networks have all the resources (including the funds) to out menouvre BLU. Also - the local networks will decrease voucher margins this year. My view (for what it is worth) is that the share will be under R4.00 at end of 2010.