Zamtel attracts more than 30 suitors

zamtel2Zamtel has attracted over 30 potential buyers of a 75-percent stake in Zambia’s fixed-line telephone operator, the investment promotion agency said on Thursday.

Indian state-run Mahanagar Telephone Nigam Ltd is among the firms interested in control of Zambia’s only licensed fixed-line provider of voice and data communications.

Zambia Development Agency (ZDA) chief executive Andrew Chipwende said companies which qualified for the second round of the tendering process would be announced around Oct. 21.

“We have more than 30 companies interested and these include most of the world’s major telecommunications companies but we don’t want to mention the names because some of them will not qualify to the next round,” Chipwende said in an interview.

But Indian state-run Mahanagar Telephone Nigam Ltd (MTNL.BO) (MTE.N) says it has expressed interest to buy a stake in Zambian telecoms firm Zamtel, the Indian firm’s chairman said on Thursday.

“We have signed the non-disclosure agreement,” MTNL Chairman R.S.P. Sinha told reporters.


Share this post