Nepal Telecom ready for a partner
Nepal Telecom is calling for on Expression of Interest tomorrow to hire a consultant for the preparations to bring in strategic partner.
The company is inviting applications from interested national and international consultants for the strategic partnership.
The consultant has to prepare Due Diligence Audit (DDA) of Nepal Telecom and document to call global tenders for a strategic partner.
The government currently has a 92 per cent stake in Nepal Telecom as eight per cent belongs to staff and general public.
Nepal Telecom has been planning to divest 30 per cent of its share to the strategic partner. The prospective partner will have to invest Rs 30 billion to Rs 40 billion to buy shares of Nepal Telecom according to Ministry of Finance study in 2012. According to the study, a prospective partner should have operations in at least three countries, a subscriber base of 20 million and an annual income of $1 billion for the last three years. "They must also be in profit for the last three years, " it added.
However, the interested consultants will have to submit their CVs within April 10," the telecom service provider said, adding that basic requirements for potential consultants include experience in strategic partnership studies, providing consulting service to at least five international markets and possession of qualified human resources.
The majority state owned telecom service provider has been planning to bring in a strategic partner since last four years, but the rigid procurement law and political interference has left the plan incomplete.
The strategic partnership will make the company more competitive with new technology and expertise.