Four Listed For Zamtel Acquistion

Four bidders have been shortlisted to take a 75% stake in the state-owned telco, Zamtel. The bidders who shall proceed to the next round are India's BSNL, Libya's LAP Greencom, Unitel /Angola Cables of Angola and Russia's Altimo Holdings/VimpelCom.

The ZDA Board at meeting held on January 11, 2009 approved the recommended shortlist after detailed analysis conducted by an Evaluation Committee.

Commenting on the shortlist at a press briefing to announce the successful bidders, Mr. Muhabi Lungu, Acting Director General of the ZDA said he was happy with all four participants who have gone through to the next stage of the process. "The bids submitted were compelling, and set the stage for an exciting next phase," he added.

The four bidders will now be invited to participate in the next round of bidding, which is expected to begin during the week commencing 18 January, 2010. At the begining of this phase shortlisted bidders will be given details of the requirements and timing for the next phase of the process. Details of the bids will not be disclosed at this stage as doing so would prejudice future phases of the privatisation process.