Maravi

ZDA accepts fourth bid for Zamtel

ZDA accepts fourth bid for Zamtel
By Fridah Zinyama
Fri 01 Jan. 2010, 04:01 CAT

THE Zambia Development Agency (ZDA) has accepted the fourth bid submission from Altimo of Russia for a majority equity stake in Zambia Telecommunications Limited after the board met on Wednesday.

On December 23, 2009, ZDA announced that three bids had been received from companies and consortia participating in the Zamtel privatisation process. Bids were received from Bharat Sanchar Nigam limited (BSNL) of India, LAP Greencom Limited/ LAP Green Networks of Libya and Unitel of Angola.

In a press statement released yesterday, ZDA acting director general Muhabi Lungu stated that the fourth bid from Altimo of Russia was received five minutes after the submission deadline of 15 hours Zambian time hence could not be opened with the other three.

“To this end, the ZDA board met on Wednesday, 30th December and after due consideration, decided to accept the submission from Altimo,” he stated. “The decision was largely based on the fact that the bid was received before the other bids were opened by ZDA and that no evaluation/adjudication of the other three bids has been undertaken yet.”
Lungu noted that at this time, the round of bids were indicative and not binding.

“Consequently, the Altimo bid will be included in the assessment of all bids,” he stated. “Altimo’s bid will therefore be opened forthwith by the ZDA.”

Lungu explained that as a result of the boards’ decision, the assessment bids would include those of Unitel of Angola, Bharat Sanchar Nigam Limited of India, LAP Greencom Limited/LAP Green Networks of Libya and Altimo of Russia.

Lungu added that ZDA’s next step would be to evaluate all bids and would announce a shortlist of companies and consortia that would be invited to the next stage of the Zamtel privatisation.

“Shortlisted companies and consortia will be invited to conduct further due diligence on Zamtel, and will be asked to submit a binding bid for majority equity stake in the company at the end of the next phase,” he stated.

Lungu stated that further details of the next phase of the Zamtel privatisation and details on the indicative bids received would be announced on or around January 11, 2010.

Labels: PRIVATISATION, ZAMTEL, ZDA

posted by MrK @ 10:40 AM