* Venezuelan government officials and US Verizon Corp initialed a memorandum of understanding under which the Venezuelan State is purchasing 28.51 percent of telecoms firm Cantv. The sale price was USD 572.2 million.

* The Venezuelan State is to launch two takeover bids. One will be filed with the Venezuelan Securities Commission (CNV) and intended to buy class D shares from stockholders willing to sell their stocks. The second bid will be filed with the US Securities and Exchange Commission (SEC), and is aimed at luring investors holding Cantv American Depositary Shares.

* Minister of Telecommunications Jesse Chacón hinted that under the new management, Cantv is aiming at USD 300 million joint projects with power supplier Cadafe and CVG Telecom intended to expand the fiber optic network in Venezuela.