Watchdog gives 45-day deadline for ruling on CANTV/Digitel merger

3 Mar 2005

The Venezuelan competition authority Procompetencia will rule on the proposed merger of national PTO CANTV and cellular operator Digitel within 45 days. The incumbent hopes to purchase 100% of Digitel’s shares for around USD450 million, but the regulator Conatel is concerned about the merger, which it fears could undermine competition in the telecoms market. According to BNamericas, Procompetencia supremo Milton Ladera will decide ‘if the merger threatens free competition in the telecoms market. A negative response would definitely halt the operation.’

Venezuela, CANTV, Digitel