Altimo of Russia joins bidding in Zamtel privatization

www.WirelessFederation.com/news: According to a research agency, the fourth bid from Russia’s Altimo has been accepted for controlling a stake in phone company Zambia Telecommunications Co.

The bid was submitted five minutes after the deadline which was December 23. Therefore it was not added to offers from Libya’s LAP Greencom Ltd together with LAP Green Networks, Angola’s Unitel Corp. and India’s state-owned Bharat Sanchar Nigam Ltd that day.

The short-listed bidders have been called for conducting further due diligence on Zamtel. They will be asked to submit a binding bid for a majority equity stake. The details of the next phase of privatization and of the indicative bids will be revealed on January 11.

In September, ZDA had announced that it was selling Zamtel, which also owns mobile-phone operator Cell-Z and Internet service provider Zamtel Online.