World VoIP NewsRussians Altimo has been accepted for a controlling stake in ZamtelRussians Altimo has been accepted for a controlling stake in Zamtel

Russians Altimo has been accepted for a controlling stake in Zamtel


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A fourth bid -- from Russia's Altimo -- has been accepted for a controlling stake in phone company Zambia Telecommunications Co., the Zambia Development Agency said.
Altimo's bid was submitted five minutes after the deadline Dec. 23, so it wasn't added that day 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., the agency said in an emailed statement.

It said its board met Wednesday and decided to accept the submission from Altimo, which, like the others, is not binding.

The short-listed bidders have been invited to conduct further due diligence on Zamtel, and will be asked to submit a binding bid for a majority equity stake. The ZDA said details of the next phase of the privatization and of the indicative bids received are set to be revealed Jan. 11.

The ZDA in mid-September said it was selling Zamtel, which also owns mobile-phone operator Cell-Z and Internet service provider Zamtel Online. The government plans to retain a minimum 25% stake in the company, but has reserved the right to sell this through an initial public offering on the Lusaka Stock Exchange.




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