Angolan Telecom Sues Former Exec's Biz For £327M

Law360, London (November 16, 2020, 8:35 PM GMT) -- Angola's largest telecommunications company has sued in London a Dutch holding company controlled by Africa's wealthiest woman for £327 million ($431 million) to recoup loans issued when the scandal-hit businesswoman chaired the communications business.

In a recent filing with the High Court, Unitel SA accused Unitel International Holdings BV, or UIH, of defaulting on seven loans issued between May 2012 and August 2013 for a combined €325 million.

The money was used to buy shares and acquire mobile phone providers in Portugal and Cape Verde and were secured with share charges in UIH, according to the Oct. 23 claim. 

But UIH,...

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