India’s MTNL wants a piece of Zambia’s Zamtel
By Dusan Belic on Tuesday, October 13th, 2009 at 12:37 AM PST In General
India’s Mahanagar Telephone Nigam Ltd (MTNL) said that it is investigating the possibility of taking a stake in Zambia’s landline and mobile operator – Zamtel. The company’s Chairman, Mr R.S.P. Sinha, told reporters that the company had signed an NDA with Zamtel, hence they cannot talk about it at this stage.
Zambia’s government plans to sell three-quarters of its stake in Zamtel to a private investor and eventually float the remaining 25% onto the local stock exchange. It is estimated that the company needs a capital injection of around $200 million, which cannot come from the government.
For the record, Zambia currently has three mobile network operators: Zain which holds 70% of the market, MTN with 20%, and Zamtel with 10%.
[Via: CellularNews]
