Venezuela delays purchase of Japan aluminum stake

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oiramoric

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Venezuela delays purchase of Japan aluminum stake

posted on Sep 07, 2009 02:46PM

the oil suit is getting tight ; cash is getting scarce and Chavez is sitting on the" rim " ready to fall off.

CIUDAD BOLIVAR, Venezuela (Reuters) - Venezuela has delayed the purchase of a 20 percent share that six Japanese companies hold in aluminum smelter Venalum until the economy picks up, Venalum's president said.

The six companies, including Showa Denko <4004.T> and Marubeni ( MARUY.PK - news - people ) <8002.T>, said in June they wanted to sell their stake in Venalum after a dispute with the government about prices for the metal.

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