Libyan state investment vehicle LAP GreenN said it is “deeply concerned” about suggestions that the Zambian government is preparing to renationalise Zamtel.
LAP GreenN said in a press release it would do “everything possible” to keep control…
Libyan state investment vehicle LAP GreenN said it is “deeply concerned” about suggestions that the Zambian government is preparing to renationalise Zamtel.
LAP GreenN said in a press release it would do “everything possible” to keep control over the business.
Meanwhile Zambian information minister Given Lubinda rejected an earlier newspaper article claiming that the state had already decided to nationalise the fixed-line operator, according to Reuters.
LAP GreenN, the telecommunications investment arm of Libyan African Portfolio (LAP), acquired the 75% stake in June 2010 for US$257m.
Since the transaction was completed, a new government has taken power in Zambia. A review by the new government into the 2010 sale of Zamtel reportedly concluded that the sale was illegal.
