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AES bid for CANTV lifts markets.(stocks of Venezuelan companies)(Brief Article)
- Article from:
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America's Insider
- Article date:
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August 30, 2001
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Copyright informationCOPYRIGHT 2001 Darien Gap LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CARACAS -- Venezuelan shares rose sharply on Thursday, extending Wednesday's 1.54% jump, with the IBC stock index rising to as high as 7229.08 points or a 3.55% gain, on the back of AES Corp's $1.4 billion bid for a controlling stake in the domestic telecom company CANTV. Although the company's shares were suspended in Caracas, its New York listed ADR's rose a further 18.3% to trade as high as $26.06, taking its two day rally to over 30%. These developments are, broadly speaking, good news for the country's beleaguered stock market which has fallen heavily over the past ...