CANTV loses USD49 million case against regulator

31 Jan 2006

Venezuela’s Supreme Court has thrown out a USD49 million lawsuit filed by telco CANTV against the country’s telecoms regulator Conatel. CANTV launched the suit because Conatel did not adjust basic residential telephony rates in 2003, but the court dismissed it, ruling that Conatel was prevented from adjusting the rates because telephony services had been declared a basic necessity. The court further decreed that the task of maximum tariff setting falls under the jurisdiction of the Ministry of Light Industry and Commerce.

Venezuela, CANTV