The National Securities Commission (CNV) authorized the government offers to nationalize No. 1 power supplier La Electricidad de Caracas (EDC) and major telecommunications company Cantv.

As part of the deal, smaller shareholders will enjoy the same terms and conditions agreed upon for majority shareholders.

Following this decision, CNV lifted a deferral on both securities in the domestic market since March 30th in order to ensure a transparent process ahead of the takeover bid, Reuters quoted.

The government is to pay USD 2.12 for each stock in Cantv at the Caracas Stock Exchange and about USD 14.85 for ADS, the equivalent of seven common stocks traded at the US Stock Exchange.

The takeover bid is scheduled for April 9th.

A dividend of USD 0.42 approved by Cantv was discounted from the price and will be accredited in a single payment on April 18th on behalf of the shareholders recorded until April 12th.

The Executive acquired from US Verizon its 28.5-percent stake in Cantv for USD 572 million, and paid AES Corp USD 739 million for its stake in EDC, amounting to 82.14 percent.