Reports in some local media have indicated that the government intends to sell Zamtel to India's Bharti Infratel.
But the Industrial Development Corporation (IDC), an agency in charge of parastatal firms, said the reports were false and should be dismissed.
In a release, IDC Group chief executive officer Mateyo Kaluba said the agency was not engaged in any discussions with the Indian telecommunication's firm and has never engaged any firm to buy Zamtel.
The IDC remains committed to transforming the telecommunications firm and that it has so for attained key milestones in achieving its transformation through innovative products and services, he said.
The official further expressed confidence in the board and management to grow the company into a viable and profitable business which would ensure that it remains a key player in the telecommunications sector.
In 2010, the government of then President Rupiah Banda sold 75 percent of Zamtel to the Libyan firm, LAP Green Networks but the decision was reversed by late President's Michal Sata's government after winng the 2011 elections.