The ZDA Board has accepted a fourth bid from Altimo of Russia to pre-qualify to participate in the Zamtel privatisation process.

Announcing the development in Lusaka, Acting Director General, Mr. Muhabi Lungu said the first three bids were received from Bharat Sanchar Nigam Limited (BSNL) of India, LAP Green Networks of Libya and UNITEL of Angola on the 23rd of December, 2009.

“The fourth bid, from Altimo of Russia, was received five minutes after the submission deadline of 1500 hours Zambian time. Because it was received after the deadline, the ZDA did not open the submission, and indicated that it would call a Board meeting to decide whether or not to accept the Submission from Altimo,” he said.

Mr. Lungu said the ZDA Board at a special meeting held on 30th December, 2009 resolved to accept the submission from Altimo on grounds that it was received before the other bids were opened and that no evaluation of the other three bids had been undertaken.

He added that the Altimo bid would be included in the assessment of bids because this round of bid was only indicative and not binding and that consequently ZDA would open the Altimo bid. As a result of the Board’s decision all four bids would be evaluated. Short listed companies and consortia will be invited to the next stage of the privatisation of Zamtel.

“Short listed companies and consortia will be invited to conduct further due diligence on Zamtel, and will be asked to submit a binding bid for a majority equity stake in the company,” Mr. Lungu said.

The next phase of Zamtel privatisation and details on the indicative bids received will be announced on or around 11th January, 2010.