(Ecofin Agency) - Isabel dos Santos (pictured), daughter of former Angolan President Eduardo dos Santos, has just suffered another financial blow. She loses control of Vidatel, a telecom operator registered in the British Virgin Islands.
Through Vidatel, the Angolan businesswoman held a 25% stake in the Angolan mobile operator Unitel. These shares had been placed under judicial supervision by Angola after investigations were opened against her.
The shares were confiscated by the Supreme Court of the British Virgin Islands. The institution appointed court administrators to manage these assets and all related bank accounts. They will also control Vidatel's interest in Unitel, including the rights inherent to such interest, namely Vidatel's voting and representation rights at Unitel's shareholders' meetings and Vidatel's right to receive past dividends and futures contracts.
The loss of control of Vidatel by Isabel dos Santos occurred after the freezing of her bank accounts in Angola in January 2020, followed one month later by the freezing of her bank accounts in Portugal. In April 2020, the businesswoman lost her shares in the Portuguese telecom operator NOS, which were seized by the courts.