LUBINDA DISPUTES REPOSSESSION OF ZAMTEL REPORTS

Information Minister, Given Lubinda has disputed reports that cabinet has finally made a decision to repossess the telecomm giant, ZAMTEL.

The embattled former parastatal company is at the centre of controversy, surrounding the legality of its partial privatisation, which saw the Rupiah Banda regime sell a 75 per cent government stake in the firm.

Following the 257 million dollars partial privatisation in 2010, the multi-national LAP GREEN Network of Libya acquired the majority stake in the company with management control.

However, a constituted commission of inquiry into the transaction has revealed that the privatisation process was flawed with gross irregularities, amid allegations of corruption.

The findings have therefore raised concerns and reports that government is set to repossess the company, a decision LAP GREEN has vowed to object with all its mighty.

Nevertheless, the REUTERS has reported that Mr Lubinda has disputed the claims of government taking over the company.

The minister has further challenged LAP GREEN Network to come out in the open to prove official correspondence of government’s decision and not just react to unconfirmed reports.