CARACAS, Monday May 27, 2013 | Update

Globovisión's main shareholder said to have violated Law on Banks

A legal action was filed Monday with the Attorney General Office

Monday May 27, 2013  04:36 PM
Publisher Grupo 6toPoder's Attorney Pedro Aranguren filed on Monday a legal action against Raúl Gorrín, the director of insurance firm La Vitalicia and main shareholder of news TV channel Globovisión, arguing that Gorrín allegedly violated Venezuela's Law on Banks and Other Financial Institutions in purchasing the shares of the TV network.

Aranguren underscored, "We have come before Attorney General Office Luisa Ortega Díaz to request an investigation to determine how Raúl Gorrín, the owner of a financial institution, has bought a media outlet in our country, thus violating Section 12, paragraph 8 of the Law on Banks and Other Financial Institutions."

The attorney stated that the sale of Globovisión to Raúl Gorrín "is void."

"Attorney Ortega Díaz must explain Venezuelans how Conatel (The National Telecommunications Commission) approved the sale and how this law came to be disregarded," he stressed.
Venezuelan metallurgic industries stay alert

According to inner surveys performed by the Venezuelan Association of Metallurgical and Mining Industries (AIMM), where 160 metallurgic companies were taken into consideration, 90% of the companies members of this association are "distressed because of their existence or survival in the short term," stated Manuel Eseverri, president of this association.

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