ZAMTEL 20% PRIVATISATION STAKE LIKELY TO BE BOUGHT BY CHINESE ZTE
The Chinese Company ZTE is reported to be the favorite to take up the 20 per cent share stake in Zambia Telecommunications (Zamtel) that is to be privatised, writes Timothy Kasolo, News Update’s Zambian correspondent. The bidding for the shares closed at the end of March.
According to Zamtel sources last week explained that ZTE will work in partnership with the Zambian government. One insider told us: " What we know is that ZTE, a Chinese company has taken the 20 percent and the remaining 80 percent is with the government."
ZTE has already had some involvement in Zambia through selling its "ZTE flying technology" brand of mobiles to Zamtel. Although largely known as an equipment vendor - it recently made large sales in Algeria and Ethiopia (see issues 153 and 173) - it was the successful bidder for the incumbent telco in Niger with Libyan financial backing (see issue 195).