Zon sells 10% stake, plans to launch Angola operation

21 Dec 2009

Portuguese cable operator Zon Multimedia has announced the sale of a 10% stake in the company to Kento Holding, a Malta-registered company owned by Isabelle Dos Santos, the daughter of the President of Angola, Reuters reports. Zon is selling 4.53% in shares it had bought back in the market, while state-run Caixa Geral de Depositos bank will sell a 2.5% stake and Cinveste will offload around 3%. Kento Holding will pay around EUR164 million (USD235 million) for the stake, or approximately EUR5.3 per share. Zon said its expansion into Angola, a former Portuguese colony where the economy continues to grow despite the global recession, will be done via a 30% stake in a satellite TV provider. The remaining 70% will be owned by Sociedade de Investimentos e Participacoes (SOCIP), which is wholly-owned by Isabelle Dos Santos.

Angola, Portugal , Nos

Subscribe



Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share