Two firms have been shortlisted for talks to buy a majority stake in Zambia’s fixed-line phone operator Zamtel, the Zambia Development Agency (ZDA) said on Thursday.
Angola’s Unitel and Libya’s LAP Green Networks are expected to start talks later this month to buy up to 75 percent of Zamtel, ZDA Director General Andrew Chipwende said.
“We are expecting to commence concessions with the two bidders for Zamtel by the third week of April. Our target is to try and conclude the process by the end of June,” he said.
Zamtel is Zambia’s only licensed fixed-line provider of voice and data communications and has performed poorly, despite monopoly rights. The company’s revenue for the year to end-December was $100 million.
The Zamtel sale has been criticised by opposition politicians and trade unions, who say Zambians should hold a bigger stake in the company.