Zambia:cabinet fails to endorse Zamtel bidder

Zambia postponed on Friday the announcement of the successful bidder for a 75 percent stake in state-run fixed-line phone operator Zamtel after the cabinet failed to approve the selection, the Zambian Development Agency said.

Opposition politicians and trade unions have criticised the Zamtel sale, saying Zambians should hold a bigger stake in the company.

Angola’s Unitel and Libya’s LAP Green Networks were the two firms short-listed to buy the stake in Zamtel, which has a monopoly over fixed-line voice and data communications in the southern African nation.

“The announcement of the winner has been postponed indefinitely because cabinet has not yet approved the decision of the Zambia Development Agency board,” spokeswoman Margaret Chimanse told Reuters.

Zamtel’s revenue for the year to end-December was $100 million.

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