Telmex, America Movil call off Cantv buyoutTelecompaper writes…Mexico-based telecoms operator Telmex and America Movil have announced they are calling off plans to buy a stake in Cantv. The pair had agreed in April 2006 to buy the shares owned by Verizon and the deal’s expiry date was postponed three times. In a statement, Telmex said the firm and America Movil had decided along with Verizon to abandon the purchase because it was unlikely government backing would be received. Although Telmex has said the Puerto Rican and Dominican Republican governments have approved the purchase of local affiliates from Verizon, Venezuelan President Hugo Chavez has said he will re-nationalise Cantv.
