| Venezuela’s telecommunications regulator, Conatel has rejected a bid by CANTV to purchase mobile operator Digitel from Telecom Italia Mobile (TIM).
"It was decided not to approve the operation," the head Conatel, Alvin Lezama, said.
CANTV – whose main shareholder is Verizon – initiated a $450 million bid for Digitel late in 2004. Digitel is Venezuela’s third largest mobile provider.
Source: Reuters |