Compania Anonima Nacional Telefonos de Venezuela (CANTV) Plans to Deregister from the U.S. SEC
CARACAS, Venezuela, June 30 /PRNewswire-FirstCall/ -- Compania Anonima Nacional Telefonos de Venezuela (CANTV) ("CANTV") today announced that it plans to deregister from the U.S. Securities and Exchange Commission ("SEC") and terminate its reporting obligations under the U.S. Securities Exchange Act of 1934 ("Exchange Act").
CANTV intends to file a Form 15F with the SEC on June 30, 2008 to effect the deregistration and termination of reporting obligations pursuant to Rule 12h-6 under the Exchange Act, which permits deregistration of a class of registered securities if the average daily trading volume of the class of securities in the United States for a recent 12-month period has been no greater than 5 percent of the average daily trading volume of the class on a worldwide basis for the same period. CANTV's reporting obligations under the Exchange Act (including the obligation to file the Annual Report on Form 20-F that would otherwise be due June 30, 2008) will be suspended immediately upon filing of the Form 15F. The deregistration and termination of reporting will become effective 90 days after the filing (unless the Form 15F is earlier withdrawn by CANTV).
CANTV's common shares will continue to be listed on the Caracas Stock Exchange. CANTV will provide investors access to English language versions of material financial information and other material investor information required by Rule 12g3-2(b) on its website at http://www.cantv.com.ve/ .
About CANTV
CANTV, a Venezuelan corporation, is the leading Venezuelan telecommunications services provider with nearly 4.2 million switched fixed access lines in service, nearly 9.5 million mobile subscribers and nearly 755 thousand broadband subscribers as of December 31, 2007. CANTV is approximately 89.4% owned by the Bolivarian Republic of Venezuela, acting principally through the Ministry of the Popular Power for Telecommunications and Information Technology.
Forward-Looking Statements:
Any statements contained in this press release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect CANTV's future financial results are discussed more fully in CANTV's various filings with the U.S. Securities and Exchange Commission, including some that were mentioned in its most recently filed Annual Report on Form 20-F. CANTV undertakes no obligation to revise these forward-looking statements to reflect events or circumstances after the date hereof.
Contacts:
Alexander Sarmiento, Chief Financial Officer
Claudio Hernandez, Advisor to the Chief Financial Officer
Margaret Caraballo, Investor Relations Assistant
CANTV Investor Relations
TEL: 011-58-212-500-1831
FAX: 011-58-212-500-3316
E-Mail: invest@cantv.com.ve
Compania Anonima Nacional Telefonos de Venezuela (CANTV)
CONTACT: Alexander Sarmiento, Chief Financial Officer, or Claudio
Hernandez, Advisor to the Chief Financial Officer, or Margaret Caraballo,
Investor Relations Assistant, CANTV Investor Relations,
+011-58-212-500-1831, or fax, +011-58-212-500-3316, invest@cantv.com.ve
Web site: http://www.cantv.com.ve/
