EL UNIVERSAL

"Jesse, what's up? Did we seize Cantv at long last? When are you supposed to obey the order? President Hugo Chávez asked Minister of Telecommunications Jesse Chacón during his TV and radio show "Aló, Presidente"

Last Sunday, January 21st, the head of state instructed Minister Chacón to nationalize telecommunications company Cantv right away. An agreement would be executed, "and we will pay them just part of it."

"Jesse, call the heads of that (company) and name a board of ours right away," Chávez said.

Chávez announced last January 8th the nationalization of Cantv and the main electric utility La Electricidad de Caracas, for considering that they are economic "strategic sectors."
Cantv, privatized in 1991, is the No. 1 telecommunications company in Venezuela. It provides fixed and mobile telephone systems, as well as Internet.

US Verizon holds 28 percent of the corporate stocks, which makes it the major shareholder. Small investors, including Cantv employees, have a stake also.
Chávez said in his show that he did not want people to say after a couple of months that "the President has done nothing."

"You must take action. I gave the instruction already," Chávez insisted on saying. "This is one of the first laws that should be drafted. Perhaps there will be just three articles and done," he added.

"Of course, I will pay (for the compensation). How come that the State will not pay?," Chávez went on saying, but noted that no advance payment will be made. "Paying beforehand, are you nuts? I will pay when the law rules it and as the State decides it. Cantv was given away (at the time of privatization). Now, stop telling stories about paying at international prices. No way!"

"The Government will execute and agreement and we will pay just a part of it. What about your (the company) debt with workers and pensioners?"

Chávez insisted on saying that Cantv had recorded his telephone conversations. However, he noted, "that was finished some years ago."

The ruler argued during his speech at the recent Mercosur summit that the Venezuelan telecommunications company tapped his phone. The company rebutted the complaint.

Based on the corporate data, Cantv has at the present time 3.2 million fixed lines; 6.7 million mobile lines and 592,000 Internet users.

Translated by Conchita Delgado
cdelgado@eluniversal.com