The Venezuelan government has commenced its previously announced concurrent tender offers to acquire the outstanding ‘Class D’ shares and American Depositary Shares (ADSs) of state-run national telco Compania Anonima Nacional Telefonos de Venezuela (CANTV). The state is offering USD1.61 per Class D share on the Caracas Stock Exchange, whilst in New York, USD11.27 is being offered per ADS (each representing seven Class D shares). The offers are scheduled to expire at 12:30 pm, New York time (12:00 pm, Caracas time), on 20 April 2009. TeleGeography’s GlobalComms database notes that CANTV was re-nationalised in May 2007; the company is 90.2% state-owned, with the remainder distributed mainly amongst employees and retirement benefit funds.