Angola’s dos Santos and friends join Zon board

30 Nov 2012

Isabel dos Santos, the daughter of Angola’s president, has joined the board of directors of Portuguese cableco Zon Multimedia, the company in which she has built up a 28.8% stake over the course of this year. The development was revealed in a statement filed with the Securities Market Commission (CMVM). If local press reports prove to be accurate, do Santos will not be short of allies on the board; fellow newly-appointed non-executive board members include Miguel Veiga Martins (managing director of Angola’s Unitel), Catarina Amorim (an administrator working for Zon’s Angolan affiliate Zap) and Andre Ribeiro Palmeiro, who has previously represented the Angolan businesswoman in Portuguese oil and gas provider Galp Energia.

According to TeleGeography’s GlobalComms Database, dos Santos currently holds the two largest equity stakes in Zon through a pair of holding companies: Jadeium (18.80%) and Kento Holding (10.00%).

Portugal, Nos