Venezuela seizes supermarket

The Venezuelan president, Hugo Chavez, says he plans to take over a French-owned supermarket chain that runs dozens of stores in the country.



Mr Chavez said the firm Exito, illegally increased its prices after a currency devaluation earlier this month.



President Chavez had warned that companies run the risk of being nationalized, if they increased their prices.



Exito, which is part-owned by Colombian firms is yet to comment on the matter.