I'd say that it is not a hardship for VZ. KRY has not stopped the social investing and if their ultimate opinion is to grant the permit they are not hurt by waiting it out to the next level. In fact they might be helped if their goal is to change the terms.

We see this different because we are losing money, but VZ really isn't.

It may also be that under the law they have to give Ortega a chance to handle the apeal and reverse (or not) before they step in, which would make her look bad internally and possibly add to the issues between Hugo and his VP. Sanz is head of CVG and one of the multi lettered MIBFLAMON agencies but I don't think directly over Ortega.

I just think they are granting her the opportunity of the formal process procedures before they step in. (If indeed they intend to).