In a petition filed in the Lusaka High Court LAP Green Network, the Libyan Investment Authority’s international telecommunications arm, has challenged the Zambian Government’s action to seize its 75% share in local fixed line incumbent Zambia Telecommunications Company (Zamtel). According to the Lusaka Times, LAP Green’s appeal has outlined its claims for financial compensation for the telco at the time of its seizure should it not be given back its shareholding, with the Libyan outfit calculating the value of its Zamtel stock at USD480 million.
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OVETEL LAP Green lodges petition with high court over seizure of Zamtel stake
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