Shareholders with as much as 75% of Unitel are likely to vote for the removal of Africa's richest woman, independent economist Antonio Estote says
Isabel dos Santos. Picture: SUNDAY TIMES/JAMES OATWAY
The meeting at Unitel, of which chair Isabel dos Santos owns 25%, comes after an arbitration court ruled that Brazilian telecommunications company Oi was entitled to receive $654m from other Unitel shareholders because they violated several clauses of the company’s shareholders’ agreement and failed to pay dividends to Oi.
The daughter of former Angolan president Jose Eduardo dos Santos, Isabel amassed a fortune during her father’s almost four-decade rule and has an estimated net worth of about $2bn, according to Bloomberg. Besides Unitel, her business interests include media, retail, finance and energy, both in Angola and in Portugal.
“Dos Santos’s withdrawal weakens her in terms of power in Angola but she is likely to maintain her stake in Unitel,” Estote said in an e-mailed response to questions.
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