AES bid for CANTV lifts markets.
At the moment AES controls 6.9% of CANTV through its majority stake in its subsidiary Corporacion EDC. Given the reaction of the markets, the success of the deal is far from certain. AES is bidding $24 for CANTV's New York listed stocks and $3.43 for its Venezuelan listed class D shares. Given that ADRs jumped to $26 in early trade, this could suggest that the market valuation of the company is higher than AES have offered, and opens up the prospect of alternate bidders entering the market.
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|Title Annotation:||stocks of Venezuelan companies|
|Article Type:||Brief Article|
|Date:||Aug 30, 2001|
|Previous Article:||Growth forecast revised again.|