By John Chola – 16/09/09
Zambia has invited international bidds for the purchase of 75 per cent shares in its national telecommunications company (Zamtel).
The Zambia Development Agency (ZDA) has announced the development in Lusaka.
The ZDA said that to prequalify prospective bidders must have a minimum of five years of licensed operations in the telecommunications industry.
The bidding companies are also required to have more than three million active attributable subscribers on fixed, mobile and fixed wireless networks.
Biding private entities companies would be required to pay a minimum of US$ 250 million shareholders’ equity while a minimum market capital of US$500 million is required for publicly listed entities.
The Zambia development Agency has asked bidding companies to pay a non refundable fee of US$20,000 prior to their submission of the prequalification application forms.
According to the statement bids for the purchase of the 75 per cent shares should be submitted to Zambia development Agency electronically in PDF format or in hard copy before five PM Zambian time on Friday 16th October 2009.
Ends.
