Repsol is in no hurry to sign a makeshift compensation deal with YPF over the expropriation of its majority stake in the Argentine state-run company, Interfax understands.
Repsol’s board of directors unanimously rejected the compensation offer it received from YPF, the company said in a statement late on Wednesday. A Repsol spokesman described the $5 billion offer as “unsatisfactory” on Thursday, saying it did not cover the losses suffered by the Spanish giant.
The company said in a statement the offer was constructed on overvalued assets “far from market...
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