Does CANTV have a share buyback program in place?
No, Cantv does not have a share buyback program in place at this time. However, between November 1999 and September 2000, the Company implemented two share repurchase programs acquiring 73,962,616 of the outstanding shares representing approximately 7.4% of the total number of Cantv shares. The weighted average price for these purchases was Bs.2,839 per share, equivalent to $28.39 per ADS. On October 25, 2001, the Company implemented a third repurchase program with a cash tender offer of $30 per ADS and $4.29 per common Class D share. At the completion of this program the Company acquired a total of 138,895,536 of the outstanding shares.
