The story, "Libya's Lap Green Networks loses restitution bid for Zamtel," posted Thursday, has been corrected on the wire. The headline and first sentence have been changed to clarify the nature of the court ruling, and the 10th paragraph has been changed to correct the sale price of Zamtel and an erroneous characterization of what the Zambian Commission of Inquiry's report said about the Zamtel sale.
The headline and first paragraph now say:
Libya's Lap Green Networks loses interim relief bid for Zamtel
Lap Green Networks, the Libyan Investment Authority's international telecommunications arm, has lost a bid for interim relief in the reversal of its acquisition of a stake in Zambia Telecommunication Co. (Zamtel).
The 10th paragraph now reads:
The shares were bought in 2010 at a cost of US$257 million. The previous Zambian government sold Zamtel to Lap Green Networks in 2010 after failing to recapitalize the company. But the current government of President Michael Sata constituted a Commission of Inquiry to investigate how the company was sold. The inquiry produced a report that showed irregularities in the manner in which the company was sold.