Moving one step closer to its first global buyout, BSNL (Bharat Sanchar Nigam Ltd.) Government owned Telecom operator company have entered in to the second round of bidding to acquire a majority stake in Zambia’s leading telecom company Zamtel.

BSNL is one of the four bidders who are selected for the next round of bidding, which is scheduled to start next week. The winning bidder would get 75% stake in the company as confirmed by the Zambia Development Agency.

Apart from BSNL, Angola’s Unitel, Libya’s LAP Green Networks and Russia’s Altimo had submitted bids in December to get a 75% stake in the company.

BSNL chairman and MD Kuldeep Goyal said ” We had participate in the bid in December for 75% stake and are now selected for the Second round. We will see.. what would happen next.”

Zamtel is Zambia’s only licenced fixed-line provider of voice and data communications with revenue of $100 million. Details of bid are still confidential.

Due to tough competition in Mobile and Telecommunication sectors, Companies are exploring their options to expand themselves in the overseas market. If BSNL gets the deal , it would become the second India Telecom Company after Bharti Airtel to invest in foreign markets. Bharti Airtel is going to invest $300 million in Bangladesh’s Telecom Company Warid to buy its 70% Stake

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