Chávez Moves to Nationalize Telecommunications

CHAVEZ MOVES TO NATIONALIZE TELECOMMUNICATIONS
[SOURCE: New York Times, AUTHOR: Simon Romero]
President Hugo Chávez signaled a vigorous new effort to assert greater control over Venezuela’s economy on Monday by announcing plans to nationalize companies in the telecommunications and electricity industries. President Chávez, who will be sworn in Wednesday to another six-year term, announced his plans at the swearing-in of his new cabinet to a cheering crowd of supporters, sending a chilling message to foreign investors. American corporations, including Verizon Communications, have large stakes in Venezuela’s largest telecommunications company, CANTV, and its biggest publicly traded electricity company, Electricidad de Caracas. “Let it be nationalized,” President Chávez said of CANTV. “All that was privatized, let it be nationalized.”
http://www.nytimes.com/2007/01/09/world/americas/09venezuela.html?hp&ex=...
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