UPDATE 3-Zambia shortlist for Zamtel includes Telkom, MTNL
* S.Africa's Telkom, India's MTNL, Portugal Telecom on list
* Vimpelcom CEO denies in the bidding process
* Due diligence to start Nov. 2
(Recasts with Vimpelcom, Altimo comments)
By Gugulakhe Lourie
JOHANNESBURG, Oct 22 (Reuters) - There are eight suitors left in the race to buy Zamtel, Zambia's fixed-line telephone operator, including South Africa's Telkom (TKGJ.J: Quote, Profile, Research) and India's MTNL, the Zambia Development Agency (ZDA) said on Thursday.
The Zambian government, which is offering between 51 and 75 percent of its Zamtel stake, has received more than 30 expressions of interest through the ZDA, which is handling the sale.
ZDA said it had shortlisted eight prequalified bidders, who will start due diligence procedures on Nov. 2.
The bidding process for Zamtel, which also has a mobile operator, Cell-Z, is likely to be completed in the first quarter of 2010. Continued...
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