State to buy up CANTV's remaining ADS, other shares in March

19 Feb 2009

The Venezuelan government has announced its intention to launch an offer to purchase the remaining American Depositary Shares (ADSs) and Class D shares of state-run national telco CANTV in approximately 30 days. The offer will be conducted as two separate, but concurrent, tender offers in the US and Venezuela. Only Class D shares may be sold in the offer in Venezuela, but holders of CANTV’s Class C shares will be able to participate in the offer by converting their shares into Class D.

Venezuela, CANTV