April 9th is a remarkable day in Venezuelan history, as this is the day when the Venezuelan Government is starting two simultaneous takeover bid to purchase a majority stake in Venezuela's major private telecoms firm Cantv and power utility La Electricidad de Caracas (EDC).

According to official communiqués published in the local press, the Venezuelan Government on April 9th is launching its takeover bid for Cantv at USD 2.121 per share.

For EDC, the bid is at USD 0.273 per stock, but the bidder is Venezuelan State-run oil giant Pdvsa.

Both takeover bids are expiring in Venezuela next May 8th at 5 pm (local time). However, article 8, regulations on takeover bids, will be implemented in both cases so that the bid can be extended for other 30 working days, with prior authorization from the National Securities Commission.

The holders of circulating stocks may request a copy of the takeover bid from their preferred stock exchange, a public stock broker authorized by the National Securities Commission or the firm coordinating the takeover bid, namely Econoinvest.

The Venezuelan Government is simultaneously launching takeover bids in the United States to purchase Cantv and EDC American Depository Shares (ADS), as USD 14.84 and USD 13.66 each, respectively.