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CANTV is one of the companies passing to state control in President Hugo Chavez’s nationalization drive.
“We expect that the take-over bid will begin in the week of April 9, both in Venezuela and in the United States,” Chacon told a news conference in Caracas. He hoped the whole buy-out would be completed by the second week of June.
There is still no word of when Venezuela will launch a stock buy-out of power utility Electricidad de Caracas EDC.CR, the other Caracas stock exchange benchmark facing nationalization.
((Writing by Christian Oliver, editing by Dave Zimmerman;Caracas newsroom, +58 212 277 2656, RM: Christian.Oliver.email@example.com, E-mail: Christian.Oliver@reuters.com, editing by Martin Golan; Keywords: CANTV TAKEOVER/
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