Portuguese authorities lift dos Santos sanctions, restoring Nos voting rights

19 Jun 2020

Lisbon’s Central Criminal Investigation Court (Tribunal Central de Instrucao Criminal, TCIC) has lifted an injunction preventing Angolan businesswoman Isabel dos Santos from exercising voting rights as a major shareholder in Portuguese multi-play provider Nos. In April this year the court froze Ms. dos Santos’s assets, including the stake she holds in ZOPT, a holding company jointly owned with Portuguese conglomerate Sonaecom, which in turn controls 52.15% of Nos.

Via Nos, co-owner Sonaecom issued a statement noting: ‘On 12 June 2020, ZOPT received a notice from the TCIC of Lisbon, according to which ZOPT is authorised to exercise the voting rights corresponding to the 26.075% of the share capital of Nos preventively seized by order of the court.’

The move was in connection with the ‘Luanda Leaks’ case that saw the businesswoman accused of corruption on a massive scale. Dos Santos – the exiled daughter of former Angolan President Jose Eduardo dos Santos – has vowed to fight a ‘politically motivated’ Angolan court order issued on 23 December to seize an estimated USD1 billion of assets including a 25% indirect stake in Angola’s leading mobile operator Unitel.

Portugal, Nos