Article: Venezuela: Digitel blocked by supreme court.

Venezuela, Nov 9, 2001

Venezuela's supreme court has ratified the ban on Digitel's desire to increase capital. BBO Servicios Financieros originally called for a block on any capital increase due to its dispute with Digitel controller TIM (Telecom Italia Mobile) that BBO says should have launched a takeover bid for 75% of Digitel in acquiring 56.6% of the firm in which BBO owns 10% (worth US$60mil). A minority stakeholder IBMS, with 1.39% of Digitel, doesn't agree with BBO's stance. The ...

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