CARACAS (AP) -- President Hugo Chavez warned Thursday that the U.S. ambassador could be asked to leave the country if he continues "meddling in Venezuela's affairs."

The Venezuelan leader lashed out after William Brownfield said U.S. companies and investors must receive a fair price for their shares of Venezuela's largest telephone company when Chavez's government nationalizes it.

"If you continue meddling in Venezuela's affairs, first of all, you are violating the Geneva agreements and getting yourself involved in a serious violation and could ... be declared a persona non grata and would have to leave the country," Chavez. The top American envoy to Venezuela told Caracas' Union Radio the planned takeover of CA Nacional de Telefonos, or CANTV, should proceed "in a transparent, legal manner" and that Venezuela's government must offer "fair and quick compensation to the people who are affected or the owners."

"These are the only obligations that a government has when it decides to nationalize an industry," Brownfield added.

Chavez also has said he plans to nationalize the electricity sector, and take state control of four lucrative oil projects and the natural gas sector.

Relations between Caracas and Washington have been tense since Chavez was briefly ousted in a 2002 coup that he claimed the U.S. played a role in. The Bush administration has repeatedly denied involvement, although it recognized an interim government established by coup leaders. Brownfield said he wanted to improve relations through "a serious and pragmatic dialogue between the two governments, to identify issues of mutual interest and to look for solutions to those issues."