November 16, 1991 |
AT&T-GTE Venture Wins Venezuela Bid: A consortium led by American Telephone & Telegraph and GTE Corp. won a bid to buy 40% of the Venezuelan telephone company for $1.885 billion, $400 million above the bid by Bell Atlantic Corp. and Bell Canada. A last-minute attempt by two leftist deputies to prevent the sale, claiming that it endangered Venezuelan sovereignty, degenerated into a brief melee at a ceremony held to announce the winning bid.
September 12, 1991 |
Bell Atlantic Plans Venture in Venezuela: A consortium led by Bell Atlantic International Inc., a division of Philadelphia-based Bell Atlantic Corp., said it is bidding for up to 40% of the Venezuelan telephone company, CANTV, whose inefficient service has made the Venezuelan phone system among the world's worst. Bell Atlantic's proposal would result in investments of "hundreds of millions of dollars" over a period of a few years, the company's president, Hyde Tucker, told a press conference.