Sunday, January 17, 2010

VENEZUELA'S CHAVEZ ORDERS NATIONALIZATION OF EXITO, OWNED BY FRENCH COMPANY

http://online.wsj.com/article/BT-CO-20100117-703649.html?mod=WSJ_World_MIDDLEHeadlinesEurope

CARACAS (Dow Jones)--President Hugo Chavez ordered Sunday the seizure of a French-owned retail chain on accusations that it raised prices after Venezuela devalued the currency by half.

"Until when are we going to allow this to happen?" Chavez asked during his Sunday television program in reference to the alleged price hike by Almacenes Exito SA (EXITO.BO), headquartered in Colombia and controlled by French retailer Casino

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