Dos Santos, who became Africa’s first female billionaire with an estimated fortune of $3.3b, owns nearly one fifth of Banco BPI.She has apparently written to the CEO of Caixabank of Spain hinting at a merger between Millennium BCP and Banco BPI.
The Spanish bank does already own around 44 per cent of Banco BPI, but with dos Santos also owning such a large chunk - 18.6 per cent to be exact - it makes things considerably more awkward, such is her influence on things.
Caixabank is investigating the possibility of a takeover of Banco BPI, but dos Santos claimed in her letter that their valuation – which comes in at just over $1b - does not reflect the bank’s true value.
Bearing in mind dos Santos’ share of Banco BPI, if she does not give her support to Caixabank then there is every chance that the bid will not succeed.
In a statement, Millennium said it would consider the possibility of such a merger, but insisted that no decision had yet been reached.
The share prices of both banks surged at the news, reaching levels neither of them had previously seen this year.
Banco BPI shares jumped by more than eight per cent, while those of Millennium BCP climbed to approaching four per cent.
What this highlights is just how much clout and influence Angolan investor dos Santos can bring to the table.
Just last year, dos Santos launched a takeover bid for Portugal Telecom SGPS, a Lisbon-listed holding company that holds a key stake in Brazilian telecoms group Oi.
It was seen by many as an attempt to prevent Oi from selling PT Portugal, the former national telecoms business, to French company Altice.
The eldest daughter of Angolan president José Eduardo dos Santos, she is arguably the most powerful woman in the continent of Africa.
She was until recently the only female African billionaire, although Nigerian Folorunsho Alakija has since made it into the exclusive club.
Dos Santos, who obtained a degree in electrical engineering from the prestigious British university, King’s College, London, has a vast portfolio.
The beginnings of her business career came in recycling and a nightclub before branching out into telecommunications, and that is where her big break really came.
She now holds a stake estimated to be worth $1b in Unitel, Angola’s first mobile telephony operator and largest private company.
More recently she has been involved in the world of finance, especially in Portugal – the former colonial rulers of Angola.
She is known for reinvesting in an increasingly diverse business portfolio, explaining not only her wealth but increasing global influence in the world of business.