Venezuelan President Proposes To Re-nationalize Country’s Largest Telecom Company In Order To Curtail Its Monopoly In Internet Market

The Government of Venezuela gives priority to Internet promotion. In 1991, the Government had privatized the telecom sector, including CA Nacional Telefonos de Venezuela (CANTV), the company that holds nearly 83% of the broadband market in Venezuela. However, President Chavez recently proposed the sector’s re-nationalization, in order to curb monopolistic practices related to Venezuela’s Internet market.

The following questions have been addressed in this article:

What is the present status of Telecom sector industries in Venezuela?
What has the President proposed to do?
What is the purpose of the proposal?

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