{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Reax to plans to nationalise telecoms and energy' data-url='/boclips/videos/5c54c0b3d8eafeecae14cb6b' data-video-url='/boclips/videos/5c54c0b3d8eafeecae14cb6b' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nReax to plans to nationalise telecoms and energy\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. Various exteriors of CANTV (Compania Nacional Telefonos de Venezuela) headquarters2. Tilt down telecommunications tower3. Wide, zoom in of CANTV shop4. Various of CANTV phone booth5. Various set up interview with analyst 6. SOUNDBITE...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. Various exteriors of CANTV (Compania Nacional Telefonos de Venezuela) headquarters\u003cbr/\u003e2. Tilt down telecommunications tower\u003cbr/\u003e3. Wide, zoom in of CANTV shop\u003cbr/\u003e4. Various of CANTV phone booth\u003cbr/\u003e5. Various set up interview with analyst \u003cbr/\u003e6. SOUNDBITE (English) Orlando Ochoa, Economist:\u003cbr/\u003e\"In fact, the general approach that the president used simply has sent a bad signal to the markets of uncertainty. Clearly, CANTV, the telecommunications company and the Electricity of Caracas are threatened and the value of their shares of these companies have sharply fallen in Caracas and in the case of CANTV in New York.\" \u003cbr/\u003e7. Various of mobile users walking on the street\u003cbr/\u003e8. Various set up interview with analyst \u003cbr/\u003e9. SOUNDBITE (Spanish) Alberto Garrido, Political Analyst:\u003cbr/\u003e\"The transition period is over. This transition, the coexistence of two systems, capitalism and an embryonic type of socialism which had not matured, led to many analysts and international leaders undermining Hugo Chavez.\"\u003cbr/\u003e10. Various of Electricity of Caracas head quarters\u003cbr/\u003e11. SOUNDBITE (English) Orlando Ochoa, Economist:\u003cbr/\u003e\"In fact, we are coming back to the times where very powerful state companies dominate the Venezuelan economy, but this time under an ideological umbrella specified by President Chavez as new socialism. However, President Chavez has called people to read Marx and Lenin to understand what kind of socialism he has in mind.\"\u003cbr/\u003eFile - Recent\u003cbr/\u003e12. Various shots of utility personnel from Electricity of Caracas working\u003cbr/\u003eFinancial markets reacted with concern on Tuesday after Venezuelan President Hugo Chavez ordered the nationalisation of the country's largest telecommunications company, previously privatised electricity companies and four lucrative oil projects run by foreign companies.\u003cbr/\u003eVenezuela's securities exchange suspended trading on Compania Nacional Telefonos de Venezuela, or CANTV, for 48 hours starting Tuesday, after the company's shares fell 30.3 percent during the day's trading session.\u003cbr/\u003eShares for CANTV stood at 6,820 bolivars per share, down from 9,780 the previous day, as investors dumped the stock following President Hugo Chavez promise to nationalise the company.\u003cbr/\u003eChavez's radical moves to turn Venezuela into a socialist state could prompt capital flight while making the nation more prone to unreliable power and telecom services as they are taken over by an increasingly bulky government sector.\u003cbr/\u003eChavez's decision to nationalise the electricity sector and the nation's dominant telephone company brings more of the economy under state control amid doubts that the government is in a position to handle all it is taking on, especially if its oil revenues are squeezed.\u003cbr/\u003eChavez is eyeing a state role in the economy more accentuated than in the past. \u003cbr/\u003e\"We are coming back to the times where very powerful state companies dominate the Venezuelan economy, but this time under an ideological umbrella specified by President Chavez as new socialism,\" said Economist Orlando Ochoa.\u003cbr/\u003eChavez, who will be sworn Wednesday to a new six-year term, ordered the nationalisation on Monday. \u003cbr/\u003eHe also ordered the Central Bank to be stripped of its autonomy.\u003cbr/\u003eAmerican Depository Receipts of CANTV - the country's largest publicly traded company and the only Venezuelan listing on the New York Stock Exchange - lost nearly 35 percent of their value, trading around $12 US dollars Tuesday afternoon. \u003cbr/\u003eThe exchange halted trading on Monday after they plunged 14.2 percent following Chavez's announcement.\u003cbr/\u003eVenezuela's electricity sector is largely state-run already and Chavez's call to re-nationalise companies that were privatised would affect several smaller regional providers.\u003cbr/\u003eIt was not clear if his decision would affect Electricidad de Caracas, owned by Arlington, Virginia-based AES Corp., which has never been in public hands.\u003cbr/\u003eStockholders, however, were not taking any chances and the company's share price fell by 20 percent Tuesday morning before the Caracas stock exchange suspended trading.\u003cbr/\u003eUS Department of Energy also expressed concern about Chavez's plans to bring the heavy oil upgrading projects in the Orinoco controlled by companies like Exxon Mobil Corp, Chevron Corp, and ConocoPhillips Co, under national ownership..\u003cbr/\u003eChavez, since taking office in 1999, has increasingly implemented measures to boost state regulation of the economy, including foreign exchange controls imposed in 2003 that make it difficult to repatriate earnings and acquire dollars for international payments. \u003cbr/\u003eHis government has also seized ranchlands and company assets deemed idle, which critics say have made businesses less likely to make long-term investments.\u003cbr/\u003eNews of the company's nationalisation caused the U.S. dollar to hit a new high of 4,000 Venezuelan bolivars on the black market on Tuesday. 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