Venezuela says to buy CANTV stock in April 9 week

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CARACAS, March 29 (Reuters) - Venezuelan Telecommunications Minister Jesse Chacon said on Thursday the stock buy-out of media company CANTV TDVd.CRVNT.N would begin in the week of April 9.

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:, E-mail:, editing by Martin Golan; Keywords: CANTV TAKEOVER/

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