Repsol defiant after learning of YPF fate ‘on TV’

Analysts described the expropriation of over half of YPF’s shares as a “watershed” moment, and questioned the legality, motives and logic behind the move Analysts described the expropriation of over half of YPF’s shares as a “watershed” moment, and questioned the legality, motives and logic behind the move.
By Chris Noon 17 April 2012 0 9108
Argentines cheered the announcement that the government would expropriate a 51% share in YPF. (PA)

There was shock, anger and defiance after Argentine President Cristina Fernandez de Kirchner wrested control of the country’s largest oil and gas producer, YPF, from Spanish giant Repsol-YPF on Monday night. Analysts described the expropriation of over half of YPF’s shares as a “watershed” moment, and questioned the legality, motives and logic behind the move.

Standing in front of an image of Eva Perón, Kirchner said in a national television address that a bill will be shortly presented to the country’s Senate, allowing her government to...

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