Zambia to pay $380m to LIA

By John Lee.

The Zambian government has reportedly been ordered to pay the Libyan Investment Authority (LIA) $380 million as compensation for nationalising the Zambia Telecommunications Company (Zamtel) in 2011.

LIA subsidiary LAP Green Networks had owned 75 percent of the company, with the Zambian government owning the remaining 25 percent.

The LIA is said to be pursuing similar action against the governments of Chad, Rwanda and Niger.

(Source: Global Telecoms Business)

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