Four international telcos to bid for stake in Zambian incumbent.

www.WirelessFederation.com/news: Four international groups namely Bharat Sanchar Nigam Ltd.of India, LAP Greencom Ltd of Libya together with LAP Green Networks, Angola’s Unitel, and Russia’s Vimpel Communications, bidding to buy 75% stake in Zambia Telecommunications Co. have been shortlisted.

According to Muhabi Lungu, acting director general of the ZDA, all the four shortlisted companies are serious and respected telecommunications players. In the next round of bidding on Monday, the shortlisted bidders will be given an opportunity to conduct further due diligence on Zamtel before submitting new offers.

25% stake has been retained by the government, which has reserved the right to sell this through an initial public offering on the Lusaka Stock Exchange.