CANTV to upgrade its network; Chavez plans to nationalize the operator.(VENEZUELA)(Compania Anonima Nacional Telefonos de Venezuela)(Brief article)

Latin America Telecom, March, 2007

Venezuela's incumbent fixed-line operator, CANTV, has started a program to upgrade its national fiber-optic network, according to BNAmericas. The project started on January 27 and will cover Barquisimeto, Caracas, Acaraigua, and Maracaibo. The upgrade is likely to enhance network capacity. Venezuelan president Hugo Chavez plans to move ahead with his plan of nationalizing CANTV.

Chavez stated that the main reason to nationalize CANTV is that the firm has developed its network only in more profitable and densely populated areas. It has completely ignored the less profitable areas while in private hands.