BSNL among four suitors for stake in Zamtel

State-run Bharat Sanchar Nigam Ltd (BSNL) has entered the second round of bidding to acquire a majority stake in Zambia’s leading telecom company, Zambia Telecommunications Ltd (Zamtel).

“All the four companies that submitted the first round bids on December 23, 2009, for up to 75 per cent stake in Zamtel have successfully gone to the second round of bidding,” Zambia Development Agency (ZDA), an official agency, said in a statement on its website.

Zamtel is Zambia’s only licenced fixed-line provider of voice and data communications. “The ZDA Board at a meeting held on January 11, approved the recommended shortlist after a detailed analysis conducted by an Evaluation Committee,” ZDA said. “The bidders who shall proceed to the next round are Bharat Sanchar Nigam Limited (BSNL) of India, LAP Greencom Ltd/LAP Green Networks of Libya, Unitel/Angola Cables of Angola and Altimo Holdings/Vimpel Com of Russia,” it said. Muhabi Lungu, Acting Director General of the ZDA, said he was happy with all four players 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.