Verizon paid US$170 million

[NewsWhore]

According to most reports, Verizon International handed over a check for US$170 million (RD$5,625,500,000 at the current exchange rate) and ended the legal process that was seeking a payment of US$518 million. The payment will allow the takeover of Verizon's operations in the Dominican Republic by the Mexican firm of America Movil, owned by billionaire Carlos Slim Helu. President Leonel Fernandez described the deal as "friendly". The President also said that he had received a "suggestion from the United States Department of State" to find a solution to the impasse that was holding up Verizon Dominicana's sale to the Mexican group. Late Friday afternoon, the Dominican Telecommunications Institute (INDOTEL) issued a resolution approving the sale under the terms of the agreement. According to President Fernandez, the "friendly solution" to the case proves that the Dominican Republic is "a safe place for foreign investment." According to Diario Libre, Verizon spokespersons still insisted that the company had not paid any tax on the sale of its operations in the DR, while saying that they were satisfied with the agreement.

More... (http://www.dr1.com/index.html#3)