Zamtel buyer to be announced Friday

Zambia will announce the successful bidder for a 75 percent stake in state-run fixed-line phone operator Zamtel on Friday, the day after a cabinet meeting to decide the winner. Government officials said the announcement would come at about 1000 GMT. Angola’s Unitel and Libya’s LAP Green Networks were the two firms short-listed to buy the majority stake in Zamtel, which has performed poorly despite having a monopoly over fixed-line voice and data communications in the southern African nation. Its revenue for the year to end-December was $100 million. Opposition politicians and trade unions have criticised the Zamtel sale, saying Zambians should hold a bigger stake in the company.
Reuters

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