Economy

Angola's Sonangol halts all asset sale talks - statement

Date: Jul 7, 2016

New Sonangol Chief Executive Isabel dos Santos has suspended all talks relating to the sale of assets belonging to the Angolan state oil firm and stripped its internal legal department of most of its powers, a statement said.

Dos Santos, the billionaire daughter of President Jose Eduardo dos Santos, told Reuters last month she planned to overhaul the sprawling 40-year-old firm - the central pillar of Angola's economy - to bring its focus back to producing oil as cheaply as possible.

--reuters--

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