WORLD
Argentina's oil takeover riles investors
April 17, 2012
April 17, 2012
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(AP) BUENOS AIRES, Argentina - Argentina's takeover of its top energy company from Spain's Repsol might solve the country's short-term energy needs, and it thrills Argentines who blame privatizations for their economy's collapse a decade ago. But analysts say it sends a terrible signal to anyone wanting to invest in Argentina.
President Cristina Fernandez made Spain furious by decreeing that her government will recover YPF by expropriating Repsol's majority stake in the company.
Fernandez, who already nationalized Argentina's flagship airline and private pension funds, said her aim is nothing less than to recover her country's sovereignty. She accused Repsol of
President Cristina Fernandez made Spain furious by decreeing that her government will recover YPF by expropriating Repsol's majority stake in the company.
Fernandez, who already nationalized Argentina's flagship airline and private pension funds, said her aim is nothing less than to recover her country's sovereignty. She accused Repsol of
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