Venezuela Moves to Buy Verizon Stake

Iria · Feb 12, 2007, 10:19 PM

Source: Breitbart.com
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CARACAS, Venezuela (AP) -- Venezuela's government signed a preliminary agreement to purchase Verizon Communications Inc.'s stake in the country's largest telecommunications company, the latest move by President Hugo Chavez to nationalize strategic sectors of the economy.

The government will buy Verizon's 28.5 percent in Compania Anonima Nacional Telefonos de Venezuela, or CANTV, for $572 million, Telecommunications Minister Jesse Chacon said Monday.

Feb 12, 2007, 10:19 PM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 74	Venezuela Moves to Buy Verizon Stake Source: Breitbart.com ________ CARACAS, Venezuela (AP) -- Venezuela's government signed a preliminary agreement to purchase Verizon Communications Inc.'s stake in the country's largest telecommunications company, the latest move by President Hugo Chavez to nationalize strategic sectors of the economy. The government will buy Verizon's 28.5 percent in Compania Anonima Nacional Telefonos de Venezuela, or CANTV, for $572 million, Telecommunications Minister Jesse Chacon said Monday.