Dos Santos covets Oi’s Angolan stake, eyes a slice of Oi itself

17 Jun 2019

Angolan businesswoman Isabel dos Santos is reportedly one of two bidders for Brazilian telco Oi’s 25% stake in Angolan mobile operator Unitel, in which she already indirectly controls a 25% share. A rival bid for Oi’s Unitel stake is said to come from Sonangol – which also holds an existing 25% Unitel share via MSTelcom – with the bids reportedly in the region of USD850 million-USD1 billion, according to Angola 24 Horas.

Isabel dos Santos has separately tabled a EUR1.2 billion (USD1.4 billion) bid for holding company PT SGPS, which owns 25.6% of Oi plus veto rights in strategic decisions at the Brazilian firm, AllAfrica reported. Analysts were quoted as calling the offer price ‘unattractive’, however, whilst Oi board members reportedly considered the proposal ‘inopportune’.

Angola, Brazil, MSTelcom, Oi, Unitel (Angola)