UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No.)*
NATIONAL TELEPHONE COMPANY OF VENEZUELA (CANTV)
--------------------------------------------------------------------------------
(Name of Issuer)
American Depository Shares
Each representing seven (7) Class D Shares of Common Stock
--------------------------------------------------------------------------------
(Title of Class of Securities)
204421101
---------
(CUSIP Number)
February 14, 2007
-----------------
(Date of Event which Requires Filing
of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*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 the
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).
Page 1 of 10
-------------------- ------------------
CUSIP No. 204421101 13G Page 2 of 10 Pages
-------------------- ------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
S.A.C. Capital Advisors, LLC
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------- ----- ----------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ----- ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 2,086,500 (1) (see Item 4)
BY ----- ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,086,500 (1) (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,086,500 (1) (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.4% (1) (see Item 4)
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 2 of 10
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CUSIP No. 204421101 13G Page 3 of 10 Pages
-------------------- ------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
S.A.C. Capital Management, LLC
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------- ----- ----------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ----- ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 2,086,500 (1) (see Item 4)
BY ----- ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,086,500 (1) (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,086,500 (1) (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.4% (1) (see Item 4)
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 3 of 10
-------------------- ------------------
CUSIP No. 204421101 13G Page 4 of 10 Pages
-------------------- ------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CR Intrinsic Investors, LLC
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------- ----- ----------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ----- ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 2,216,500 (2) (see Item 4)
BY ----- ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,216,500 (2) (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,216,500 (2) (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.6% (2) (see Item 4)
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 4 of 10
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CUSIP No. 204421101 13G Page 5 of 10 Pages
-------------------- ------------------
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Steven A. Cohen
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------- ----- ----------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ----- ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 4,303,000 (1) (2) (see Item 4)
BY ----- ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
4,303,000 (1) (2) (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,303,000 (1) (2) (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.0% (1) (2) (see Item 4)
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 5 of 10
Item 1(a) Name of Issuer:
--------------
National Telephone Company of Venezuela (CANTV)
Item 1(b) Address of Issuer's Principal Executive Offices:
-----------------------------------------------
Avenida Libertador, Centro Nacional de Telecomunicaciones,
Nuevo Edificio Adminstrativo, Piso 1, Apartado Postal 1226,
Caracas, Venezuela 1010
Items 2(a) Name of Person Filing:
---------------------
This statement is filed by: (i) S.A.C. Capital Advisors,
LLC, ("SAC Capital Advisors") with respect to American
Depository Shares ("ADS"), each representing 7 Class D
Shares of Common Stock of the Issuer, beneficially owned by
S.A.C. Capital Associates, LLC ("SAC Capital Associates");
(ii) S.A.C. Capital Management, LLC, ("SAC Capital
Management") with respect to ADS beneficially owned by SAC
Capital Associates; (iii) CR Intrinsic Investors, LLC ("CR
Intrinsic Investors") with respect to ADS beneficially owned
by CR Intrinsic Investments, LLC ("CR Intrinsic
Investments") and (iv) Steven A. Cohen with respect to ADS
beneficially owned by SAC Capital Advisors, SAC Capital
Management, SAC Capital Associates, CR Intrinsic Investors
and CR Intrinsic Investments.
SAC Capital Advisors, SAC Capital Management, CR Intrinsic
Investors and Steven A. Cohen have entered into a Joint
Filing Agreement, a copy of which is filed with this
Schedule 13G as Exhibit 99.1, pursuant to which they have
agreed to file this Schedule 13G jointly in accordance with
the provisions of Rule 13d-1(k) of the Securities Exchange
Act of 1934, as amended.
Item 2(b) Address of Principal Business Office:
------------------------------------
The address of the principal business office of (i) SAC
Capital Advisors, CR Intrinsic Investors and Mr. Cohen is 72
Cummings Point Road, Stamford, Connecticut 06902 and (ii)
SAC Capital Management is 540 Madison Avenue, New York, New
York 10022.
Item 2(c) Citizenship:
-----------
SAC Capital Advisors, SAC Capital Management and CR
Intrinsic Investors are Delaware limited liability
companies. Mr. Cohen is a United States citizen.
Page 6 of 10
Item 2(d) Title of Class of Securities:
----------------------------
American Depository Shares, each representing seven (7)
Shares of Class D Common Stock
Item 2(e) CUSIP Number:
------------
204421101
Item 3 Not Applicable
Item 4 Ownership:
---------
The percentages used herein are calculated based upon the
Class D Shares of Common Stock ("Class D Shares") issued and
outstanding as of December 31, 2005 as reported on the
Issuer's Form 20-F filed with the Securities and Exchange
Commission by the Issuer on December 31, 2005.
As of the close of business on February 14, 2007:
1. S.A.C. Capital Advisors, LLC
(a) Amount beneficially owned: 2,086,500 (1)
(b) Percent of class: 3.4% (1)
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 2,086,500 (1)
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
2,086,500 (1)
2. S.A.C. Capital Management, LLC
(a) Amount beneficially owned: 2,086,500 (1)
(b) Percent of class: 3.4% (1)
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 2,086,500 (1)
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
2,086,500 (1)
3. CR Intrinsic Investors, LLC
(a) Amount beneficially owned: 2,216,500 (2)
(b) Percent of class: 3.6% (2)
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 2,216,500 (2)
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
2,216,500 (2)
4. Steven A. Cohen
Page 7 of 10
(a) Amount beneficially owned: 4,303,000 (1) (2)
(b) Percent of class: 7.0% (1)(2)
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 4,303,000 (1)
(2)
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
4,303,000 (1) (2)
(1) The number of shares reported herein are American
Depository Shares, each of which represents 7 Class D
Shares, held by SAC Capital Associates. The percentages are
calculated based upon the amount of Class D Shares issued
and outstanding.
(2) The number of shares reported herein are American
Depository Shares, each of which represents 7 Class D
Shares, held by CR Intrinsic Investments. The percentages
are calculated based upon the amount of Class D Shares
issued and outstanding.
SAC Capital Advisors, SAC Capital Management, CR Intrinsic
Investors and Mr. Cohen do not directly own any American
Depository Shares nor any Class D Shares. Pursuant to
investment management agreements, each of SAC Capital
Advisors and SAC Capital Management share all investment and
voting power with respect to the securities held by SAC
Capital Associates. Pursuant to an investment management
agreement, CR Intrinsic Investors maintains investment and
voting power with respect to securities held by CR Intrinsic
Investments. Mr. Cohen controls each of SAC Capital
Advisors, SAC Capital Management and CR Intrinsic Investors.
By reason of the provisions of Rule 13d-3 of the Securities
Exchange Act of 1934, as amended, each of (i) SAC Capital
Advisors, SAC Capital Management and Mr. Cohen may be deemed
to own beneficially 2,086,500 (1) American Depository Shares
(representing approximately 3.4% of the Class D Shares
outstanding) and (ii) CR Intrinsic Investors and Mr. Cohen
may be deemed to own beneficially 2,216,500 (2) American
Depository Shares (representing approximately 3.6% of the
Class D Shares outstanding). Each of SAC Capital Advisors,
SAC Capital Management, CR Intrinsic Investors and Mr. Cohen
disclaim beneficial ownership of any of the securities
covered by this statement.
Item 5 Ownership of Five Percent or Less of a Class:
--------------------------------------------
If this statement is being filed to report the fact that as
of the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following. [ ]
Item 6 Ownership of More than Five Percent on Behalf of Another
--------------------------------------------------------
Person:
------
Page 8 of 10
Not Applicable
Item 7 Identification and Classification of the
----------------------------------------
Subsidiary Which Acquired the Security Being
--------------------------------------------
Reported on By the Parent Holding Company:
-----------------------------------------
Not Applicable
Item 8 Identification and Classification of Members
--------------------------------------------
of the Group:
------------
Not Applicable
Item 9 Notice of Dissolution of Group:
------------------------------
Not Applicable
Item 10 Certification:
-------------
By signing below the signatory certifies that, to the best of his knowledge
and belief, the securities referred to above were not acquired and are not held
for the purpose of or with the effect of changing or influencing the control of
the issuer of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having that purpose or
effect.
Page 9 of 10
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.
Dated: February 26, 2007
S.A.C. CAPITAL ADVISORS, LLC
By: /s/ Peter Nussbaum
----------------------------
Name: Peter Nussbaum
Title: Authorized Person
S.A.C. CAPITAL MANAGEMENT, LLC
By: /s/ Peter Nussbaum
----------------------------
Name: Peter Nussbaum
Title: Authorized Person
CR INTRINSIC INVESTORS, LLC
By: /s/ Peter Nussbaum
----------------------------
Name: Peter Nussbaum
Title: Authorized Person
STEVEN A. COHEN
By: /s/ Peter Nussbaum
----------------------------
Name: Peter Nussbaum
Title: Authorized Person
Page 10 of 10