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Angola’s Isabel dos Santos dragged into $400 mln London lawsuit

Angola’s Isabel dos Santos dragged into $400 mln London lawsuit

ANGOLAN billionaire Isabel dos Santos, daughter of the country's former president, faces being dragged into a $400 million London lawsuit brought by Angolan telecoms operator Unitel. Unitel sued dos Santos' Dutch company Unitel International Holdings (UIH) in 2020 over loans provided to fund UIH's acquisition of shares in telecom companies. The loans were not repaid and around $395 million plus interest remains outstanding, Unitel's lawyers told London's High Court on Tuesday. Unitel is applying to personally add dos Santos – Africa's first female billionaire, whose father Jose Eduardo dos Santos ruled Angola for 38 years until 2017 – to its…
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Angola’s beleaguered dos Santos steps down from Unitel

Angola’s beleaguered dos Santos steps down from Unitel

CATARINA DEMONY ANGOLAN billionaire Isabel dos Santos will leave her job in the administration of telecoms operator Unitel amid ongoing tensions between board members, Portugal's news agency Lusa reported on Tuesday. "After 20 years dedicated to the creation, development and success of Unitel, I chose to leave the position of member of the company's board of directors," dos Santos, who holds a 25% stake in Unitel, said in a statement cited by Lusa. Dos Santos' decision to leave her position at Unitel, which dominates Angola's telecoms market, is related to a "climate of permanent conflict" among the company's board of…
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