CARACAS, Venezuela—Venezuelan telecom company Cantv said it received offers for 39.7 percent of the company’s outstanding shares in its buyback offer. The company launched the offer to thwart a hostile takeover plan by U.S.-based utility company AES, which was since withdrawn the offer.
Cantv offered US$30 per American Depositary Receipt (ADR) to buy back 15 percent of its stock. Verizon holds 28.5 percent of Cantv and has management control.
