BSNL and MTNL qualify for first round of bidding for Zamtel

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BSNL and MTNL qualify for first round of bidding for Zamtel

December 15, 2009

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After qualifying in the first round of bidding, Bharat Sanchar Nigam Limited (BSNL) is in the process of submitting its financial bid for acquiring a majority stake in Zambia Telecommunications (Zamtel). The Zambian government is offering between 51 and 75 per cent of its stake in Zamtel. The other shortlisted companies include Mahanagar Telephone Nigam Limited (MTNL) and South Africa's Telekom. The prequalified companies have been invited to participate in the due diligence process that began on November 2, 2009 and will continue till December 23.