ZDA allows Russian firm to bid for Zamtel

The Zambia Development Agency (ZDA) has announced the inclusion of the bid submitted by Altimo for a majority equity stake in Zambia Telecommunications Limited (Zamtel).

ZDA Acting Director General Muhabi Lungu explained that the bid by Altimo of Russia was received five minutes after submission deadline of 15:00 hours Zambian which he said could not be opened because it came in late.

He further explained that ZDA decided to go for a board meeting to decide whether or not to accept the submission from Altimo.

He said the meeting considered the bid and accepted it.

Mr. Lungu told ZANIS in a press statement in Lusaka today that the decision was largely based on the fact that the Altimo bid was received before the other bids were opened by the ZDA and that no evaluation or adjudication of the other three bids has been undertaken yet.

Mr. Lungu noted that as a result of the board’s decision, the assessment of the bids will include UNITEL of Angola, Bharat Sanchar Nigam Limited (BSNL) of India, LAP Greencom LTD/LAP Green Networks of Libya and Altimo of Russia.

He pointed out that the ZDA will evaluate all the four bids and will announce a shortlist of companies or consortia that will be invited to the next stage of the privatization of Zamtel.

“Shortlisted companies and consortia will be invited to conduct further due diligence on Zamtel and will be asked to submit a binding bid for a majority equity stake in the company at the end of the next phase “he said.

The next phase of the Zamtel privatization and details on the indicative bids received will be announced on 11th January 2010.

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