Once Africa’s Richest Woman, Dos Santos Has $734 Million of Assets Frozen
- Angolan firm Unitel wins asset freeze over uncommercial loans
- Firm sued dos Santos and holding company for loan defaults
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Isabel dos Santos, the self-exiled daughter of former Angolan President Jose Eduardo dos Santos, had £580 million ($734 million) of assets frozen in a London legal spat with telecommunications firm Unitel SA.
Dos Santos and her Dutch holding company Unitel International Holdings BV were sued by Angolan Unitel for defaulting on loans worth around €325 million and $44 million to fund UIH’s interests in telecommunications companies. The two firms have no direct corporate connections despite similar names.