MTNL, BSNL short-listed for acquiring stake in Zamtel

MTNL, BSNL short-listed for acquiring stake in Zamtel New Delhi: State-owned Mahanagar Telephone Nigam Ltd (MTNL) and Bharat Sanchar Nigam Ltd (BSNL) have been shortlisted as qualified bidders for acquiring stake in Zambia's leading telecom firm Zamtel.

"Two of India's telecommunication giants BSNL and MTNL" are among the eight bidders who have been shortlisted (for the acquisition), Zambia Development Agency (ZDA), which is handling the sale, said in a statement.

It was, however, not clear whether the two PSUs have formed a consortium or they have bid separately.

"MTNL along with eight other bidders have been shortlisted by state-run telecom firm Zamtel," an MTNL official told.

MTNL and BSNL are among the 30 bidders who applied to prequalify in the partial sale of the telecommunications company after the ZDA officially announced its privatisation in September this year.

The Zambiam government is offering between 51 and 75 per cent of Zamtel's stake.

The other firms which have been qualified are Altimo Hodlings/Vimpelcom of Russia, Libyan LAP Greencom Limited/LAP Green Networks, Portugal’s Portugal Telecom, Telkom SA Limited of South Africa, UNITEL of Angola.

Bureau Report