MTNL eyes stake in Zambia's Zamtel

NEW DELHI, INDIA: Indian state-run Mahanagar Telephone Nigam Ltd (MTNL) has expressed interest to buy a stake in Zambian telecoms firm Zamtel, the Indian firm's chairman said on Thursday.

"We have signed the non-disclosure agreement," MTNL Chairman R.S.P. Sinha told reporters.

State-run Zamtel is Zambia's only licensed fixed-line provider of voice and data communications and the state plans to sell up to 75 percent in it as part of a privatisation drive.

Zamtel's revenue for the year to end-December were $100 million.