NEW LIBYA GOVERNMENT TO DIALOGUE WITH ZAMBIA OVER ZAMTEL

Libya will do all it can to protect its 75 percent stake in Zamtel, the fixed-line telecoms firm in Zambia, whose government announced plans last week to seize Libya's stake in the firm.

Libyan Foreign Minister, Ashour bin Khayyal says he has spoken to his Zambian counterpart about the issue, on the sidelines of the African Union summit in the Ethiopian capital.

Zambia dissolved the board of Zamtel and appointed a new acting CEO last Tuesday, a day after announcing plans to seize 75 percent of the firm from Libya's LAP Green Networks.

The previous Zambian government had sold the 75 percent stake to LAP Green Networks for 257 million dollars in 2010.

Libya made major investments in Africa during Muammar Gaddafi's rule, some of them managed by the 65 billion dollars Libyan Investment Authority through a 5 billion dollars fund known as Libyan African Investment Portfolio.

LAP Green, a telecom company operating in six African countries, was one of these investments.

Khayyal has added that Libya would send a delegation to Zambia to discuss the Zamtel issue in one or two weeks.