AES bid for CANTV lifts markets.(stocks of Venezuelan companies)(Brief Article)
America's Insider, August, 2001
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CARACAS -- Venezuelan shares rose sharply on Thursday, extending Wednesday's 1.54% jump, with the IBC stock index rising to as high as 7229.08 points or a 3.55% gain, on the back of AES Corp's $1.4 billion bid for a controlling stake in the domestic telecom company CANTV. Although the company's shares were suspended in Caracas, its New York listed ADR's rose a further 18.3% to trade as high as $26.06, taking its two day rally to over 30%.
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These developments are, broadly speaking, good news for the country's beleaguered stock market which has fallen heavily over the past ...
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