Venezuelan President Hugo Chavez has Chavez set to meet Spanish king ...
Tour de France: German Burghardt wins 18th stage, Sastre keeps lead ...
Chavez hails new era in relations with Colombia ...
Pinochet suspects arrests ordered ...
Venezuela protest after US overflight ... announced a plan to nationalise Bank of Venezuela, one of the largest banks in the country.
He has asked for a meeting with the bank's owners, Spain's Grupo Santander, for a meeting to agree a price.
Santander is thought to have planned to sell the bank to a Venezuelan banker.
The country has begun nationalising industries, including electricity and gas, as part of Mr Chavez's drive toward "21st century socialism".
Cement and telecommunications industries are also set to be taken over by the state.
Backlash expected
Santander has about 4,500 bank branches in Latin America and the region accounted for about a third of its profits in 2007.
However, in its latest annual report it acknowledged that its Venezuelan operations were at risk of nationalisation.
Mr Chavez said that he expected a backlash in Spain.
Last November, there was a row at a summit in Chile after Spain's King Juan Carlos told Mr Chavez to "shut up".
However, the pair met last week to improve relations.
(BBC)
<< Back