Conatel slaps CANTV with USD45.5 million unpaid bill

13 Jan 2006

Venezuelan regulator Conatel has billed national fixed line operator CANTV for USD45.5 million in unpaid fees and other debts, reports BNamericas. The bill, presented to CANTV and its subsidiaries CANTV.NET and Movilnet, included fines and accumulated interest covering a period between 2000 and 2003. The company has 25 working days to appeal the ruling. The large bill follows several regulatory setbacks for the telco last year. In May 2005 Conatel blocked CANTV’s USD450 million bid to purchase rival mobile operator Digitel on the grounds of unfair competition. Two months later Venezuela’s Supreme Court ruled that CANTV must upgrade pensions for workers and make back payments to retirees, to the tune of at least USD333 million.

Venezuela, CANTV