Zamtel loses its bidder
Indian state-owned telecom operator, Bharat Sanchar Nigam Ltd. (BSNL) has withdrawn its bid for a stake in Zambia’s- Zamtel.
Acording to the Indian press, who cited an official involved in the discussions, the decision to acquire a majority stake in Zambia Telecommunications (Zamtel) would not be accepted by India’s Department of Telecom.
“The proposal is unlikely to be approved by the Department of Telecom because Zamtel is a loss making entity and BSNL needs to put its own house in order before buying a bleeding company”, said the official, quoted by the country’s Economic Times.
The Zambian government plans to sell a 75% stake in state-owned operator Zamtel.
