dos Santos raises Zon stake to 28.8%

Isabel dos Santos has raised her stake in Portuguese cableco Zon Multimedia to 28.8 per cent, indicating that her Amsterdam-based holding company Jadeium has acquired the 10.96 per cent stake in Zon previously held by financial institution Caixa Geral de Depositos (CGD).

The transaction means that dos Santos, the daughter of Angola’s president Jose Eduardo dos Santos, now holds the two largest stakes in Zon, through Jadeium (18.8 per cent) and Kento Holding (10 per cent).

In January 2012 Zon shareholders voted their approval of a plan to lift voting rights beyond the existing 10 per cent limit, paving the way for existing investors such as dos Santos to raise their stakes in the company.

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