RealNews

Venezuela in control of CANTV

President Hugo Chavez’s government on Wednesday said it has bought a controlling stake in Venezuela’s largest telecommunications company for $1.3 billion as the country moves ahead with its nationalization drive. The government raised its stake in CA Nacional Telefonos de Venezuela to 86.2 percent from a previous 6.6 percent after buying shares through tender offer on the stock exchanges in Caracas and New York. Full Story

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