Telecom giant Unitel SA's $430m battle with ex-CEO Isabel dos Santos

摘要

The Angolan telecommunications giant Unitel SA is hoping that a court battle will see Isabel dos Santos' Dutch firm Unitel International Holdings (UIH) settle its debts. In its filing with the High Court of London in late October, Unitel SA accuses UIH of failing to reimburse $431m worth of loans contracted between May 2012 and August 2013 at the time Unitel SA itself was headed by the former Angolan president José Eduardo dos Santos's daughter. The money was used to acquire shares in cell phone operators in Portugal and Cape Verde. Unitel SA claims UIH defaulted on an interest payment of over $161,000 in interest in September 2019 and has never received the instalment.