Unitel sues Isabel dos Santos company as her corporate empire continues to crumble
Luanda Leaks showed how the mobile company became a cash cow for the Angolan billionaire. It’s now seeking repayment of loans totalling $430 million.
December 17, 2020
An Angolan walks by the a shopping mall with a Unitel advertisement in Angola.
Angola’s largest mobile phone provider has sued a company controlled by billionaire Isabel dos Santos after it stopped repaying loans following a cash crisis deepened by the Luanda Leaks investigation.
In paperwork filed in a London court in October, Unitel alleged that dos Santos’ Dutch company, Unitel International Holdings BV, or UIH, defaulted on loans issued from 2012 to 2013. Unitel is seeking the immediate repayment of more than $430 million.