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.