{"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='Venezuela signs deal to buy Verizon\u0026#39;s stake in telecom company' data-url='/boclips/videos/5c54c1b1d8eafeecae1541b3' data-video-url='/boclips/videos/5c54c1b1d8eafeecae1541b3' 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\nVenezuela signs deal to buy Verizon\u0026#39;s stake in telecom company\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'\u003eGlobovision - No Access Venezuela12 February, 20071. Officials signing documents during ceremony2. John Diercksen, Executive Vice President of Verizon with Minister of Telecommunication Jesse Chacon3. Chacon signing, pull out4....\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eGlobovision - No Access Venezuela\u003cbr/\u003e12 February, 2007\u003cbr/\u003e1. Officials signing documents during ceremony\u003cbr/\u003e2. John Diercksen, Executive Vice President of Verizon with Minister of Telecommunication Jesse Chacon\u003cbr/\u003e3. Chacon signing, pull out\u003cbr/\u003e4. SOUNDBITE: (Spanish) Jesse Chacon, Telecommunications Minister:\u003cbr/\u003e\"That's why this company will allow the co-existence, in this new model of socialist production, of private enterprise and state enterprise and of course the kind of enterprises we want to develop which are social production enterprises.\"\u003cbr/\u003eAP Television\u003cbr/\u003eFILE: January 2007\u003cbr/\u003e5. Exteriors of Compania Anonima Nacional Telefonos de Venezuela (CANTV) building\u003cbr/\u003e6. Tower with telecommunications equipment\u003cbr/\u003e7. Exterior of CANTV commercial office with people going in and out\u003cbr/\u003eGlobovision - No Access Venezuela\u003cbr/\u003e12 February, 2007\u003cbr/\u003e8. SOUNDBITE: (Spanish) Jesse Chacon, Telecommunications Minister:\u003cbr/\u003e\"That means a price on each ADS (American Depository Share) which has been negotiated on the New York stock market of 17.85 US dollars each.\"\u003cbr/\u003e9. Officials shaking hands\u003cbr/\u003eVenezuela has signed a preliminary agreement to purchase Verizon Communications Incorporated's stake in the country's largest telecommunications company, the latest move by President Hugo Chavez toward nationalising strategic sectors of the economy.\u003cbr/\u003eThe government will pay 572 (m) million US dollars for Verizon's 28.5 percent stake in Compania Anonima Nacional Telefonos de Venezuela, or CANTV, the telecommunications ministry said.\u003cbr/\u003eChacun spoke to reporters after signing the memorandum of understanding with John Diercksen, New York-based Verizon's executive vice president for strategy, development and planning.\u003cbr/\u003e\"This company will allow the co-existence, in this new model of socialist production, of the private enterprise and state enterprise and of course the kind of enterprises we want to develop which are social production enterprises,\" Telecommunications minister Jesse Chacon said of Chavez's latest phase of nationalisation.\u003cbr/\u003eWhile the sale price is below the 676 (m) million US dollars that Mexican billionaire Carlos Slim offered for Verizon's stake last year, analysts said the deal still could turn out to be a reasonable one for the US company.\u003cbr/\u003eThe deal leaves the government with 35 percent control of CANTV, including the 6.5 percent stake it already owned. \u003cbr/\u003eRemaining shareholders in the company include Spain's Telefonica, public stockholders, and employees and retirees.\u003cbr/\u003eThat gives Chavez operative control of a company that he accused last month of spying on him.\u003cbr/\u003eCANTV, a former state company, was privatised in 1991. \u003cbr/\u003eThe company has 13-thousand employees, 3.25 (m) million fixed-line customers, 6.76 (m) million cellular customers and 592-thousand Internet subscribers.\u003cbr/\u003eThe deal with Verizon is the second in a series of takeovers announced by Chavez's leftist government in the electricity, telecommunications, natural gas and oil sectors in his bid to transform Venezuela into a socialist state.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator Rating\u003c/dt\u003e\n\u003cdd\u003e\u003cspan class=\"star-rating\" aria-label=\"3.5 out of 5 stars\" role=\"img\"\u003e\u003ci 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