http://www.lightreading.com/document.asp?s...ng&doc_id=55652JULY 05, 2004
Venezuela Plans New Fiber Rollout
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Here's a tale that bucks the trend in telecom competition. Venezuela plans
to launch a state-owned service provider to challenge the incumbent private
carriers, with the country's president, Hugo Chavez, pledging hundreds of
miles of new fiber construction.
The companies hoping Chavez isn't a man of his word are Compania Anonima
Nacional Telefonos de Venezuela (CANTV), the dominant fixed line provider
that's 28 percent owned by affilates of Verizon Communications Inc. (NYSE:
VZ - message board), and Telcel, which is now part of the global Telefònica
Mòviles SA empire (see Telefónica Buys BellSouth Ops ).ADVERTISEMENT
The Venezuelan government owns 6.6 percent of CANTV's outstanding stock.
Having created a new state-owned telecom firm last year called Covetel
(Corporacion Venezolana de Telecomunicaciones), Chavez, who runs a country
about twice the size of California with a population of 25 million,
announced his intention to take on the incumbents on Sunday during his
weekly TV and radio show, "Hello President," according to Reuters.
Chavez said the operator would use the existing 762 miles (1,228 km) of
fiber already dug along the national electricity grid, but would build an
additional 837 miles to reach all the major parts of the country, though the
President didn't reveal how much would be invested in the new
infrastructure.
The new carrier might provide television as well as traditional telecom
services. Chavez's government has in the past accused private TV companies
of unfairly attacking his government.
‹ Ray Le Maistre, International Editor, Boardwatch
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