http://www.signonsandiego.com/news/2010/jan/20/venezuelas-chavez-seizes-french-owned-retailer/
Chavez said his government would transform Exito, which is majority-controlled by the French company Casino Guichard Perrachon SA, into a chain of state-run stores that will sell products at cut-rate prices as part of his drive toward socialism.
The expropriation of Exito will expand the government's presence in retail sales. It has a network of state-run subsidized food markets and recently opened a business selling arepas - toasted corn cakes that are a common meal in Venezuela.
Chavez also has nationalized businesses in the steel, telecommunications, electricity, cement and oil sectors.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment