BMI View: A heavy government influence helps shape Venezuela’s telecoms market, with state-owned firms playing a major role in all aspects of the sector. This not only deters private investment, but also affects private firms already operating in the country, such as Telefónica, as they are unable to repatriate their profits. As the state controls a large portion of the sector, the development of telecoms infrastructure is closely linked to the success, or otherwise, of Venezuela’s oil sector – if revenues from oil run dry, then the government lacks funds for other projects. Our latest quarterly report shows that the …
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