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LAP Green Chairman Says "SATA's PF Gov't Assertions That ZAMTEL Was Undervalued Is BASELESS"
Sata's PF gov't asserstions that ZAMTEL was undervalued are 'BASELESS'
LAP Green Network Chairman Wafik Alshater has described as completely baseless accusations that Zamtel was undervalued at the point of sale.
Mr Alshater in an electronic statement released to QFM has also dismissed allegations of wrong-doing by LAP Green during the acquisition of the 75 percent stake in Zamtel.
Mr Alshater claims LAP Green followed due, facilitated by a consortium of internationally renowned professional service companies, including Standard Bank, Denton Wilde Sapte and KPMG South Africa.
He says the open and competitive bid process was overseen by the Zambia Development Agency and included the direct involvement of the Attorney General and international legal advisers, Simmons and Simmons.
Mr Alshater adds that the 75% stake sold to LAP Green in June 2010 for $257 million about K1.37 trillion constituted the highest amount ever paid for a privatisation in Zambia and was at the time one of the higher valuations for a telecoms asset in Africa
He says Zamtel is a successful turnaround story and that LAP Green remains keen to cooperate with the Zambian government to ensure the continued growth and success of the company.
And Mr Alshater has accused the media in Zambia of subjecting LAP Green to a concerted campaign of misinformation.
He says the wilful misrepresentation of LAP Green has forced the company to explore legal options to protect its reputation.
Posted by
Tax Payer
January 19, 2012 at 9:36 pm
By the time the PF govt finds, thats if they do, the true findings of the sale of Zamtel billions of taxpayers’ money will be wasted on appointing the so called Commissions of Inquiry. God help us.
walasa nafuti
January 19, 2012 at 9:57 pm
Wafik Alshater by the time we are done with you manso yazasalala pyu. Uzachiona. Tiye, tiye, muyikile, muyikile. Zamtel yesu.
wawa
January 19, 2012 at 10:07 pm
BA GREEN MANBA JUST GO BACK TO YOUR DESSERT
Ronz
January 19, 2012 at 10:09 pm
Sometms we just hav to confiscte these thngs wtht wasting time discusn ths ovr & ovr again. Zambia is a problem on its own.
Eve Banda Msidi
January 19, 2012 at 10:19 pm
Alshater shut up you old bedouin fool.Zamtel belongs to the people of Zambia and it will be nationalised..chigili!
Kasoma John Rex Nsashichitukabalashi
January 19, 2012 at 10:23 pm
Where is this so called chairman getting power to start answering our govt and the president in media? I think he is just applying for a deportation. Deport him. ZAMTEL is for the people of Zambia and if we want we can stop using it and see if Libyians has ZAMTEL cards. Shame.
Godfather
January 19, 2012 at 10:33 pm
I thnk dat da govt is jst wastin money on some of these inquiries zamtel hs improvd greatly since its take ova lets jst luk on developmental issues n nt dis
legend of the orator
January 19, 2012 at 11:19 pm
wat improvements? it took me 4 days jst to hv my sim card replaced. zamtel yesu!
ASPIRING PRESIDENT
January 19, 2012 at 11:35 pm
this chairman is having this courage because LAP GREEN has all our national secrets including the presidents thru mwembeshi satelite.please mr sata get us back our zamtel.we cant aford 2 continue leaking our secrets to foreigners.
Nevers Mumba
January 20, 2012 at 12:39 am
Zambia Shall be Saved.
True intellectual
January 20, 2012 at 2:35 am
The Zambian gvmt sold zamtel to lap green, upon evaluations and adhered to by the Zambian gvmt in power. How do we confiscate now? If zamtel was so great then why was it a great failure before lap green? Arbitration courts await us in London, and zambians thru our tax monies are going to lose a colussal of money……let it be, maybe negotiate a better % in the network, but by barking we are just looking like a bunch of sour grapes who could not run business since kk regime and with foreign investors, lose credibility.
Air Mukwai_
January 20, 2012 at 3:00 am
of all the pipo why dealing with ABALUNGWANA ?
the validity of the indenture was in question right from the beginning. Now the zambian common man is recompensing for dora’s misdemeanor. we haven’t reached an impasse yet and the ball is zambian gvt court.
Bokosi
January 20, 2012 at 3:47 am
‘confrontational’ in bemba, lol
Big ben
January 20, 2012 at 3:51 am
Mr Chairman!! kindly keep quiet for now i can see you going out faster!! that sale was crokard and you know it deep down your heart
Hussen Daka
January 20, 2012 at 4:17 am
You The So Called Chairman keep it in your mind that if you buy a stolen property you lose all your money Zamtel is for Zambians if this Goverment fail you we the owners of this Country will not.
SILLIOUS GERD
January 20, 2012 at 5:46 am
king cobra alebomba.
tulepo zamtel.
noboby noone to pray with zambian when GOD is on our side and when king cobray is God given president to zambia.
Kombwe
January 20, 2012 at 7:45 am
We want the truth to emerge out of Zamtel findings. The statement that “PF gov’t asserstions that ZAMTEL was undervalued are ‘BASELESS’” shud b justified. What evident do u hav to sho Zambians that u ar telng th truth?
Mwandini
January 20, 2012 at 8:25 am
This is the same thing as saying because a thief enlisted qualified engineers to manufacture him an electronic gadget that was used to rob a bank he is not a thief!
allergic to corruption!
January 20, 2012 at 8:27 am
How foolish are you to say that the Cobra is God given to Zambia, you fool!
The Zedian
January 20, 2012 at 8:53 am
PF should be very careful, everyone who thinks properly & is educated should know that LAPgreen are not dull, by the time PF finish with this issue; Zambia will have lost a lot of cash if these same dull chaps in government continue trying to please the public blindly. LAPgreen bought Zamtel shares from the government of zambia and not MMD, So PF should behave like the govenment of Zambia and not like a political party, If we are to reverse the sale; we need to be professional and very careful
…please pipo, be wise, dont just support anything, there is a better way to do this to avoid loosing big sums of money……some one educated please advise the president and his cadres….
patson
January 20, 2012 at 9:01 am
U so cod (allergic to corruption) the most foolish human being its u who can’t see wit yo naked eyes tht his excellency is a God given president 2 ths nation. Beta use yo brains b4 commentin.
patson
January 20, 2012 at 9:13 am
Imwe baba so cod ati the Zedian jst thoughly analysing yo comment i can tel tht u hav’nt gone vry far in yo education. Do u really understand corruption & government operations? Am worried i never knew in Zambia we still hav such dull chaps like ths 1. Shame!
Godwin Mukonda
January 20, 2012 at 9:16 am
If the findings by the commision of inquiry are truth, Zamtel was fraudently sold to Lapgreen and the evidence is very clear it will be prudent to re possess the entity.Finance bank was re possessed, i dont think the government can not do it to the Libyan firm, just becuase they are Arabs. Zambians cowardise make people lose even if they are strong!!
The Lap green chairman is threatening possible legal redress as a way of intimidating Zambians as he knows Zambians easily cow down- yes Zambians for those days, everything has since changed, Zambians are courageous now, so to hell Lap Green!!!
regold
January 20, 2012 at 9:18 am
Finally the nigga hs spoken out. Please let’s muv on to beta thngz. Zambia failed zamtel nw y iz it much ov concern nw? Instead ov wastin mor money, let’s put the little we hav to good use…
Voice of reason
January 20, 2012 at 9:41 am
The problem in Zambia is that we most pipo are too dull to think on their own and think Sata & co should for them.
* 1st and foremost the same commision of inquiry was made up of PF members and thus was not objective.
* 2nd Lapgreen emerged as the top bidder among 4 other companies and were not involved in the so called under-valuation of the company
* if any 1 is to pay it is the people that corruptly sold the company.
your are charged for buying stolen property if you buy on the street from someone who cant prove that they own the property. Sadly the level of literacy in Zambia are too high like most bloggers here.
Prof; Zick
January 20, 2012 at 9:55 am
Iwe tax-payer writing a comment as number one u must be useless,that is why u hide your name,u should be MMD and avoiding the wind of corruption fight is blowing towards u.
Tell people good opinions to Zambians,to prove u are not useless,we need Zamtell back
The Zedian
January 20, 2012 at 10:02 am
Ba Patson,
Since you are very learned, post something everyone will read and understand, ur just writing about…u so called this and and that… come up with a meaningful post. seriously u come out blunt, these are real issues, am not supporting LAPgreen, am just concerned about the approach….I may not be too educated like you Patson, but my posts are better than yours.
Slayer B
January 20, 2012 at 10:25 am
@The Zedian good thoughtful post man…m enjoying ur viewpoint…
Slayer B
January 20, 2012 at 10:27 am
@The Zedian & @Voice of Reason good thoughtful posts…I wish ‘we’ all had analytical minds like yours..
wax
January 20, 2012 at 10:27 am
Alshater, take it easy its not you to tell us Zamtel was not undervalued. Its us the Zambians. We built the company and we know how much it can cost.
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