LAP GREEN OPEN TO DIALOGUE OVER ZAMTEL

Libya’s LAP GREEN says it is willing to resolve the current impasse regarding its 75 per cent stake in the telecomm giant, ZAMTEL.

The Libyan telecomm group in June 2010 acquired a 75 per cent stake in ZAMTEL at a cost of a reported 257 million dollars, in a process described as highly fraudulent and irregular.

There are since new indications that the government might go by the recommendations of the commission of inquiry instituted to investigate the legality of the transaction.

The commission has recommended that the transaction be reversed as it was highly marred by corruption, allegations, which have since swallowed a number of former ministers in the past MMD regime.

But the multi-national telecomm group has said in a statement it welcomes any opportunity to work with the Zambian government over the embattled ZAMTEL.

LAP GREEN Chairman, Wafik Shater says the group is looking to a swift and positive outcome over the whole issue.

He has sated that LAP GREEN is committed to the future of ZAMTEL, further claiming that since acquiring the company, the mobile phone business side of the business has quadrupled to securing more than 800,000 subscribers by the start of this year.

LAP GREEN has also claimed commitments of investing 129 million dollars in ZAMTEL over the next two years.