To recover the company's significant investment in Zamtel, Al-Shater said Lap Green will consider any and all legal options available, if necessary, whether in Zambia or in other jurisdictions.

The previous Zambian government sold Zamtel to Lap Green Networks in 2010 at a total cost of US$257 million after failing to recapitalize the company. But following the current government's coming to power in September last year, the 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, alleging that Lap Green Networks and RP Capital, which was appointed as financial advisor, bribed senior Zambian government officials.

The report said, "the sale of the company was fraudulent and irregular as Lap Green Networks did not even meet any of guidelines that were set by Zambia Development Agency for bidders."

However, Al-Shater is further seeking a court declaration that the procedure used by the Zambian government to compulsorily acquire the shares was improper, unreasonable and unlawful and that it should be set aside.

Dorah Siliya, the former minister of Communications and Transport who oversaw the sale of the company, has been arrested, and is already appearing in court regarding her role in the sale of the company.