Angolan businesswoman Isabel dos Santos becomes member of the board of Portuguese company Zon Multimédia

28 November 2012

Angolan businesswoman Isabel dos Santos has become a member of the board of Portuguese multimedia company Zon Multimédia, a company in which she owns a 28.8 percent stake, as a non-executive member, the company said in a statement issued Tuesday in Lisbon by the market regulator.

In a statement field with Portuguese stock market regulator CMVM, Zon Multimédia also said that the board, which met Tuesday, had also decided to take on three other people as non-executive members of the board for the 2010/2012 term.

The daughter of the Angolan president has a 28.8 percent stake in the Portuguese telecommunications operator, 10 percent of which is via Kento Holding and 18.8 percent via Jadeium, both of which are stakeholding companies.

In the first nine months of 2012, Zon Multimédia posted a profit of 29.6 million euros, which was a rise of 3.9 percent on the same period of 2011.

Zon Multimédia is a business group that leads the TV services market in Portugal and is also the second-biggest supplier of Internet access. It has a presence in Angola via ZAP, a partnership in which it has a 30 percent share, with the remaining 70 percent in the hands of Isabel dos Santos. (macauhub)