Economy & Business - June 2022

VENEZUELA: More market reforms as gov’t announces share float in state companies

Venezuela’s President Nicolás Maduro announced in a televised address on 11 May that his government was looking to float shares worth between 5% and 10% of the value of various state-run companies. Companies mentioned included state-run telephone and internet service provider CANTV and its mobile phone subsidiary Movilnet, and petrochemical producer Petroquímica de Venezuela. Noticeably absent from the list was the state-owned oil company, Petróleos de Venezuela (Pdvsa).

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