SC 13D/A
Table of Contents

     
 
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D/A

Under the Securities Exchange Act of 1934
(Amendment No. 14 )*

COMPANIA ANONIMA NACIONAL TELEFONOS DE VENEZUELA (CANTV)
(Name of Issuer)
NATIONAL TELEPHONE COMPANY OF VENEZUELA (CANTV)
(Translation of Name of Issuer into English)
CLASS D COMMON SHARES,
NOMINAL VALUE Bs. 36.90182224915 PER SHARE (the “Class D Shares”)
AMERICAN DEPOSITARY SHARES EACH REPRESENTING
SEVEN CLASS D SHARES (the “ADSs”)
(Title of Class of Securities)
P3055Q103 (Class D Shares); 204421101 (ADSs)
(CUSIP Number)
Marianne Drost, Esq.
Senior Vice President, Deputy General Counsel and Corporate Secretary
Verizon Communications Inc.
140 West Street, New York, New York 10007
(212) 395-1000
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
with copies to:
Matias A. Vega, Esq.
Curtis, Mallet-Prevost, Colt & Mosle LLP
101 Park Avenue
New York, New York 10178
(212) 696-6000
February 8, 2007
(Date of Event Which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. o

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 
 

TABLE OF CONTENTS

Item 4. Purpose of Transaction
Item 7. Material to Be Filed as Exhibits
Exhibit Index
SIGNATURE
EX-99.1: TERMINATION AGREEEMENT

Table of Contents

                     
CUSIP No.
  
P3055Q103 (Class D Shares)
204429101 (ADSs)
  

 

           
1   NAMES OF REPORTING PERSONS:

Verizon Communications Inc.
   
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY):
 
  23-2259884
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
  (a)   o 
  (b)   o 
     
3   SEC USE ONLY:
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS):
   
  Not applicable
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e):
   
  None
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  State of Delaware
       
  7   SOLE VOTING POWER:
     
NUMBER OF   Class D Shares: 28,009,177*
ADSs: 4,001,311
       
SHARES 8   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   Class D Shares: None
ADSs: None
       
EACH 9   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   Class D Shares: 28,009,177*
ADSs: 4,001,311
       
WITH 10   SHARED DISPOSITIVE POWER:
     
    Class D Shares: None
ADSs: None
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  Class D Shares 28,009,177*
ADSs: 4,001,311
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  Not applicable
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
   
  6.5 %(the 4,001,311 ADSs represent 28,009,177 Class D Shares, which represent approximately 6.5% of the total Class D Shares outstanding).
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  HC
* The 4,001,311 ADSs represent 28,009,177 Class D Shares. Because the holder may exchange ADSs for Class D Shares, the Reporting Persons may be deemed to beneficially own 28,009,177 Class D Shares

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Table of Contents

                     
CUSIP No.
  
P3055Q103 (Class D Shares)
204429101 (ADSs) 
  

 

           
1   NAMES OF REPORTING PERSONS:

GTE Corporation
   
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY):
 
  13-1678633
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
  (a)   o 
  (b)   o 
     
3   SEC USE ONLY:
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS):
   
  Not applicable
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e):
   
  None
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  State of New York
       
  7   SOLE VOTING POWER:
     
NUMBER OF   Class D Shares: 28,009,177*
ADSs: 4,001,311
       
SHARES 8   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   Class D Shares: None
ADSs: None
       
EACH 9   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   Class D Shares: 28,009,177*
ADSs: 4,001,311
       
WITH 10   SHARED DISPOSITIVE POWER:
     
    Class D Shares: None
ADSs: None
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  Class D Shares 28,009,177*
ADSs: 4,001,311
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  Not applicable
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
   
  6.5% (the 4,001,311 ADSs represent 28,009,177 Class D Shares, which represent approximately 6.5% of the total Class D Shares outstanding).
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  HC
* The 4,001,311 ADSs represent 28,009,177 Class D Shares. Because the holder may exchange ADSs for Class D Shares, the Reporting Persons may be deemed to beneficially own 28,009,177 Class D Shares.

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Table of Contents

                     
CUSIP No.
  
P3055Q103 (Class D Shares)
204429101 (ADSs)
  

 

           
1   NAMES OF REPORTING PERSONS:

Verizon International Holdings Inc.
   
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY):
 
  06-1460807
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
  (a)   o 
  (b)   o 
     
3   SEC USE ONLY:
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS):
   
  Not applicable
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e):
   
  None
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  State of Delaware
       
  7   SOLE VOTING POWER:
     
NUMBER OF   Class D Shares:28,009,177*
ADSs: 4,001,311
       
SHARES 8   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   Class D Shares: None
ADSs: None
       
EACH 9   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   Class D Shares: 28,009,177*
ADSs: 4,001,311
       
WITH 10   SHARED DISPOSITIVE POWER:
     
    Class D Shares: None
ADSs: None
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  Class D Shares 28,009,177*
ADSs:4,001,311
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  Not applicable
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
   
  6.5% (the 4,001,311 ADSs represent 28,009,177 Class D Shares, which represent approximately 6.5% of the total Class D Shares outstanding).
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  HC
* The 4,001,311 ADSs represent 28,009,177 Class D Shares. Because the holder may exchange ADSs for Class D Shares, the Reporting Persons may be deemed to beneficially own 28,009,177 Class D Shares.

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Table of Contents

                     
CUSIP No.
  
P3055Q103 (Class D Shares)
204429101 (ADSs) 
  

 

           
1   NAMES OF REPORTING PERSONS:

GTE Venezuela S.a r.l.
   
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY):
 
  Not applicable
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
  (a)   o 
  (b)   o 
     
3   SEC USE ONLY:
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS):
   
  Not applicable
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e):
   
  None
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  Luxembourg
       
  7   SOLE VOTING POWER:
     
NUMBER OF   Class D Shares: 28,009,177*
ADSs: 4,001,311
       
SHARES 8   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   Class D Shares: None
ADSs: None
       
EACH 9   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   Class D Shares: 28,009,177*
ADSs: 4,001,311
       
WITH 10   SHARED DISPOSITIVE POWER:
     
    Class D Shares: None
ADSs: None
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  Class D Shares 28,009,177*
ADSs: 4,001,311
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  Not applicable
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
   
  6.5% (the 4,001,311 ADSs represent 28,009,177 Class D Shares, which represent approximately 6.5% of the total Class D Shares outstanding).
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  HC
* The 4,001,311 ADSs represent 28,009,177 Class D Shares. Because the holder may exchange ADSs for Class D Shares, the Reporting Persons may be deemed to beneficially own 28,009,177 Class D Shares.

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Table of Contents

                     
CUSIP No.
  
P3055Q103 (Class D Shares)
204429101 (ADSs) 
  

 

           
1   NAMES OF REPORTING PERSONS:

GTE Venholdings B.V.
   
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY):
 
  98-0347727
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
  (a)   o 
  (b)   o 
     
3   SEC USE ONLY:
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS):
   
  Not applicable
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e):
   
  None
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  Netherlands
       
  7   SOLE VOTING POWER:
     
NUMBER OF   Class D Shares: 28,009,177*
ADSs: 4,001,311
       
SHARES 8   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   Class D Shares: None
ADSs: None
       
EACH 9   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   Class D Shares: 28,009,177*
ADSs: 4,001,311
       
WITH 10   SHARED DISPOSITIVE POWER:
     
    Class D Shares:None
ADSs: None
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  Class D Share: 28,009,177*
ADSs: 4,001,311
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  Not applicable
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
   
  6.5% (the 4,001,311 ADSs represent 28,009,177 Class D Shares, which represent approximately 6.5% of the total Class D Shares outstanding).
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  HC
* The 4,001,311 ADSs represent 28,009,177 Class D Shares. Because the holder may exchange ADSs for Class D Shares, the Reporting Persons may be deemed to beneficially own 28,009,177 Class D Shares.

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Table of Contents

Amendment No. 14 to Schedule 13D
     This is the fourteenth amendment (“Amendment No. 14”) to the Statement on Schedule 13D originally filed by GTE Corporation and GTE Venezuela Incorporated on December 9, 1996 and amended on December 18, 1996, December 23, 1998, July 13, 2000, October 10, 2001, October 16, 2001, October 22, 2001, November 5, 2001, December 6, 2001, March 6, 2002, April 3, 2006, July 5, 2006, October 2, 2006 and January 3, 2007, relating to the Class D Common Shares, nominal value Bs. 36.90182224915 per share (the “Class D Shares”), and American Depository Shares, each representing seven Class D Shares (the “ADSs”) of Compania Anonima Nacional Telefonos de Venezuela (the “Issuer”). Capitalized terms used herein but not defined have the meanings ascribed to them in the initial Statement on Schedule 13D, as amended through the date hereof (the “Schedule 13D”). The Schedule 13D is hereby amended as follows:
Item 4. Purpose of Transaction
     The information in Item 4 of the Schedule 13D is hereby amended by adding the following at the end thereof:
     On December 29, 2006, Buyer and Sellers agreed to extend the term of the Stock Purchase Agreement until February 28, 2007, providing additional time in which to obtain certain regulatory approvals in Venezuela. Such approvals have not been granted.
     On February 8, 2007, Buyer and Sellers entered into an agreement (the “Termination Agreement”) pursuant to which they mutually agreed to terminate the Stock Purchase Agreement with immediate effect. The Termination Agreement includes mutual releases for any losses suffered by any of the parties which arise out of or result from the Stock Purchase Agreement or its termination. A copy of the Termination Agreement is attached hereto as Exhibit 1.
     The filing persons will consider various alternatives with respect to the Class D Shares and ADSs owned by them.
Item 7. Material to Be Filed as Exhibits
Exhibit Index
             
    Exhibit No.   Description
 
            
 
  1     Termination Agreement, dated as of February 8, 2007, by and among GTE Venezuela S.a r.l., Verizon International Holdings, Inc. and Oarsman Investments B.V.

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SIGNATURE
     After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
                 
 
  Date: February 8, 2007            
        VERIZON COMMUNICATIONS INC.    
 
                
        /s/ John W. Diercksen
    
             
 
      By:   John W. Diercksen    
 
                
        GTE CORPORATION    
 
                
        /s/ Marianne Drost
    
             
 
      By:   Marianne Drost    
 
                
        VERIZON INTERNATIONAL HOLDINGS INC.    
 
                
        /s/ Christopher M. Bennett
    
             
 
      By:   Christopher M. Bennett    
 
                
        GTE VENEZUELA S.A R.L.    
 
      By:   VERIZON INTERNATIONAL HOLDINGS INC., MANAGER    
 
                
        /s/ Christopher M. Bennett
    
             
 
      By:   Christopher M. Bennett    
 
                
        GTE VENHOLDINGS B.V.    
 
      By:   VERIZON INTERNATIONAL HOLDINGS INC., MANAGING DIRECTOR    
 
                
        /s/ Christopher M. Bennett
    
             
 
      By:   Christopher M. Bennett    

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Exhibit Index
     
Exhibit No.   Description
 
    
1
  Termination Agreement, dated as of February 8, 2007, by and among GTE Venezuela S.a r.l., Verizon International Holdings, Inc. and Oarsman Investments B.V.

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