State-run PSU, MTNL is in race to acquire 75 % stake in Zambian operator, Zamtel valued at over $ 200 million. Currently the telco is inviting expression of interests and is expected to announce qualified bidders by this month end.

RSP Sinha chairman and managing director of MTNL, said, “We have expressed interest for Zamtel, and have signed a non-disclosure agreement with the company.”

MTNL has floated an expression of interest to invite bids for appointment of a firm to carry out due diligence of Zamtel.

Zamtel has a subscriber base of around 0.25 million including 0.1 million mobile subscribers.