India-based state-run Mahanagar Telephone Nigam Ltd (MTNL) has decided to acquire a stake in Zambian telecom firm Zamtel.

The sources informed that the company has inked non-disclosure pact with Zamtel.

Public-listed Zamtel is Zambia's only licensed fixed-line provider of voice as well as data communications.

As per official sources, the government of Zambia plans to sell up to 75% equity of Zamtel as part of a privatisation drive.

As per reports of media, for the year to end-December, Zamtel's revenue figure stood at $100 million.