Thursday, July 7, 2022
  • Login
Upgrade
The Southern African Times
  • Home
  • Southern Africa
  • Global
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
  • Opinion
  • Sports
  • Lifestyle
    • Health
    • Culture
    • Food and Drink
    • Entertainment
  • SAT Jobs
No Result
View All Result
  • Home
  • Southern Africa
  • Global
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
  • Opinion
  • Sports
  • Lifestyle
    • Health
    • Culture
    • Food and Drink
    • Entertainment
  • SAT Jobs
No Result
View All Result
The Southern African Times
No Result
View All Result
Home in Southern Africa Angola

Lisbon court seizes NOS shares held by Angola’s dos Santos

by SAT Reporter
April 5, 2020
in Angola, Business
0
Africa’s richest woman accuses Portugal of ‘acting illegally’
0
VIEWS

Sonaecom, sub-holding of Portugal’s Sonae, said on Saturday evening a Lisbon court seized shares in telecommunications firm NOS of a holding company it co-owned with former first-daughter and Angolan businesswoman Isabel dos Santos. 

Sonaecom and dos Santos, who was named a suspect in a fraud investigation in Angola this year, each own 50% of holding firm ZOPT, which owns 52.15% of NOS. 

The seizure affects half of ZOPT’s shares, equivalent to dos Santos’ holdings – but ZOPT as a whole will be deprived of voting rights, a decision Sonaecom argued “seriously harms the interests of ZOPT and Sonaecom, both being third parties completely unrelated to the judicial process underway.”

Sonaecom said it would contest the decision as ZOPT “is not liable for the debts of its shareholders”. Dos Santos has repeatedly denied any wrongdoing. 

Angolan courts seized dos Santos’ assets in December, but did not freeze voting rights, Sonaecom said. 

In February, Portugal’s public prosecutor ordered the seizure of bank accounts belonging the ex-first daughter, who also owns shares in several other Portuguese companies including oil group Galp. 

Sonaecom said it would cooperate with judicial authorities while taking “all appropriate legal action to revert and terminate the seizure procedure”. 

Earlier this year, hundreds of thousands of files about dos Santos dubbed the “Luanda Leaks” were released by several news organisations focussing on how she amassed a fortune estimated at more than $2 billion. 

Previous Post

Nigeria to set up $1.39 billion fund to fight coronavirus

Next Post

Trump: ‘Going to be a lot of death’ in U.S. next week from coronavirus

SAT Reporter

Related Posts

Invest more in Africa—Akinwumi Adesina urges keen Irish business community
Business

Invest more in Africa—Akinwumi Adesina urges keen Irish business community

by SAT Reporter
July 6, 2022
JPMorgan warns oil prices could surge 240%
Business

JPMorgan warns oil prices could surge 240%

by SAT Reporter
July 4, 2022
11th World Urban Forum: amplifying the voices of African cities
Business

11th World Urban Forum: amplifying the voices of African cities

by SAT Reporter
July 2, 2022
Key takeaways from CBN’s new cybersecurity guidelines for Other Financial Institutions (OFIs) in Nigeria

Key takeaways from CBN’s new cybersecurity guidelines for Other Financial Institutions (OFIs) in Nigeria

by SAT Reporter
July 1, 2022
10 African countries with the lowest foreign exchange reserves

10 African countries with the lowest foreign exchange reserves

by SAT Reporter
June 29, 2022
Next Post
U.S. could be next ‘virus epicentre – WHO

Trump: 'Going to be a lot of death' in U.S. next week from coronavirus

Premium Content

CAF cancels U17 AFCON due to COVID-19 challenges

CAF cancels U17 AFCON due to COVID-19 challenges

March 10, 2021
S. Africa welcomes Moody’s rating upgrading: economist

S. Africa welcomes Moody’s rating upgrading: economist

April 4, 2022
Egypt to establish $2bn investment fund for financial services, digital transformation

Egypt to establish $2bn investment fund for financial services, digital transformation

September 9, 2020

Browse by Category

  • African Continental Free Trade Area
  • African Start ups
  • Algeria
  • Analysis
  • Angola
  • Asia
  • BOTSWANA
  • Botswana
  • Burkina Faso
  • Burundi
  • Business
  • Business
  • Cameroon
  • Central Africa
  • China
  • Climate Change
  • Climate Changev
  • Congo Republic
  • COVID 19
  • Culture
  • Democratic Republic of Congo
  • Eastern Africa
  • Egypt
  • Entertainment
  • Environment
  • Ethiopia
  • Europe
  • Fashion
  • Finance
  • Food
  • Food and Drink
  • Foods
  • Ghana
  • Global
  • Guinea
  • Health
  • Immigration
  • in Southern Africa
  • International news
  • Just In
  • Kenya
  • Lesotho
  • Libya
  • Life Style
  • Lifestyle
  • Malawi
  • Malawi
  • Mali
  • Markets
  • Middle East
  • Mozambique
  • Namibia
  • Nigeria
  • North Africa
  • Opinion
  • Politics
  • Rwanda
  • Senegal
  • Seychelles
  • South Africa
  • South Sudan
  • Sports
  • Startup Africa
  • STOCK EXCHANGE
  • Tanzania
  • Tech
  • Togo
  • Travel
  • Travel
  • Tunisia
  • Uganda
  • Uncategorized
  • West Africa
  • World
  • World
  • ZAMBIA
  • Zambia
  • ZIMBABWE
  • Zimbabwe

Browse by Tags

africa African business news Africa New Africa News african footballer African investments african markets African news African start-up banking Business China Classic Content currency Explore Bali Finance football Life Style Markets Market Stories Namibia news Nigeria Oilandgas oil and gas Opinion Pandemic Politics Premium reserve bank of Zambia Russia South Africa Southern African News sports Stay Home Travel United Kingdom United Stated Vaccine Work From Home Wuhan Zambia Zimbabwe Zimbabwe Harare Manufacturing Africa Employment creationn

WHO WE ARE

The Southern African Times is a regional bloc digital newspaper that covers Southern African and the world news. The paper also gives a nuanced analysis on news and covers a wide range of reporting which include sports, entertainment, foreign affairs, arts and culture.

Facebook Twitter Youtube Instagram Rss

Copyright © 2022 The Southern African Times | Powered by The Southern African Times

Privacy Policy

Terms and Conditions

  • Home
  • Southern Africa
  • Global
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
  • Opinion
  • Sports
  • Lifestyle
    • Health
    • Culture
    • Food and Drink
    • Entertainment
  • SAT Jobs

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?