But shares in the streaming company had fallen since it made its offer, an indication that investors were sceptical of the plan.
After two decades of deferring to executive authority and eroding anti-bribery laws, the supreme court has suddenly limited presidential power in a way that could make one ugly form of political influence a bit more difficult to pull off. Last week’s ruling did not merely strip one president of his executive power to unilaterally impose levies across broad swaths of the economy – it makes it harder for any president to transform tariffs from a broad economic policy into a personal political cudgel that muzzles criticism and enforces fealty.
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During the Chávez presidency, Venezuela reclassified its reserves. Previously, there were thought to be just 80 billion barrels of extractable oil, but by 2011, its reported figure had nearly quadrupled. That statistical change was made possible by high oil prices at the time, which allowed previously unviable projects to look feasible.