"We are going to nationalize Banco de Venezuela," Chavez said during a live television broadcast. Without specifying a price, he said the nationalization is aimed to have a bank "to serve the Venezuelans."
Chavez said he decided to nationalize after learning that Santander had contacted a local bank to sell the institution, and he has refused local bank's bid for the government's authorization.
"Now sell it to the government, "Chavez said, adding although the owners were not interested in selling their bank, "I'll buy it, how much does it worth? We will pay it."
"We need a bank of that size, it was like Viaza, one of the best airlines of the world," Chavez said.
Source: Xinhua
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