All four suitors seeking a majority stake in Zambia’s fixed-line phone operator Zamtel have been shortlisted for the next round of bidding due to start next week, Zambia said on Wednesday.
India’s Bharat Sanchar Nigam Ltd , Angola’s Unitel, Libya’s LAP Green Networks and Russia’s Altimo all submitted bids for a slice of up to 75 percent in Zamtel in December.
The Zambia Development Agency (ZDA) said the next round of bidding was scheduled to start next week..
“The bids submitted were compelling, and set the stage for an exciting next phase,” Muhabi Lungu, acting director general of the ZDA said in a statement.
The Zamtel sale has been criticised by opposition politicians and trade unions, who say Zambians should hold a bigger stake in the company.
Zamtel’s revenue for the year to end-December was $100 million. It is Zambia’s only licensed fixed-line provider of voice and data communications, and has performed poorly despite its monopoly rights