PATRIOTIC Front (PF) leader Michael Sata should stop misleading the people that Zamtel has already been sold, Chief Government spokesperson, Ronnie Shikapwasha has said.

Lieutenant General Shikapwasha said in Lusaka yesterday that instead of speculating, Mr Sata and anyone interested in the process of the sale of Zamtel should go to the Zambia Development Agency (ZDA) to get the correct position.

Mr Sata said in Lusaka yesterday that Zamtel had been sold and the Government should not cheat the people that it was still looking for an equity partner.

But Gen Shikapwasha said in an interview that Mr Sata should contact the ZDA to get the facts concerning the off-loading of the Zamtel shares right, instead of misleading the nation.

"ZDA is a public institution which is there to serve the public. Mr Sata is free to go there and see director general Andrew Chipwende for a true picture," the minister said.

When asked to state who had bought Zamtel, Mr Sata failed to name the company but insisted that the deal was riddled with corruption.

"I don't need to state who bought. Just like there is corruption in the Chiluba acquittal, there is corruption in the privatisation of Zamtel. We were told RP Capital was hired to do the valuation of Zamtel assets but now we are told it is an interested party," he said.

ZDA spokesperson Margaret Chimanse said yesterday the agency stood by its earlier announcement that Zamtel had not yet been sold and nothing had changed.

The ZDA said last week that it would be the major privatisation agent for the telecommunication company with RP Capital advisor as the financial advisor.

Last week, the ZDA started advertising the sale of up to 75 per cent shares in Zamtel in the international and local media after Cabinet approved the privatisation of the company.

ZDA said prospective bidders were invited to place bids to qualify for the proposed sale of an equity stake in Zamtel.

The pre-qualification criteria to bid for Zamtel includes a minimum of five years of licensed operation in the telecommunications industry, as the entity's primary activity.

The intending bidders also need to have at least three million subscribers with total assets exceeding the liabilities by at least $250 million.

The ZDA would also allow consortia to bid for the purchase of Zamtel but the lead member of such a group should be from the telecommunications business.

The ZDA said the Government would not put a price tag on Zamtel because it might lower the price.

The ZDA said up to 75 per cent of Zamtel would be offered for sale while the Government would retain a 25 per cent stake, which it might sell at a later stage through an initial public offering on the Lusaka Stock Exchange.

Zamtel is Zambia's only licensed fixed-line provider of voice and data communications and revenue for the year to end-December was $100 million, according to the ZDA.