Venezuela - VIP gaining a strong foothold

摘要

Venezuela s fixed-line teledensity is only about average for Latin America - a poor performance based on the country s GDP per capita, which is one of the region s highest. In 2007, however, Venezuela s fixed-lines in service grew at a faster rate than those of most other Latin American countries, as its renationalised incumbent CANTV rolled out lines in underserviced areas while cutting interconnection charges and call fees. The Venezuelan government gained control of CANTV in May 2007 with an 86.2% stake, which comprised: 6.6% that it already owned; 28.5% that it purchased from Verizon; and 51.1 % that it purchased through concurrent share offers on the New York and Caracas stock exchanges.