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More on Argentina's takeover of YPF: The government will send a bill to Congress to take a 51%...

More on Argentina's takeover of YPF: The government will send a bill to Congress to take a 51% stake in the oil & gas giant for the "public good," according to an official. The move follows weeks of government pressure for the firm to spend more and pay its investors less. Shares -14%, Repsol (REPYY.PK) -1.7%.
Comments (9)
  • Tack
    , contributor
    Comments (13579) | Send Message
     
    Mrs. Kirchner: Hugo Chavez, just absent the cojones.
    16 Apr 2012, 12:19 PM Reply Like
  • Larry Smith
    , contributor
    Comments (2509) | Send Message
     
    Can't believe anyone was still in the stock, this has been widely forecast for awhile now. I guess some investors like clinging to hope.
    16 Apr 2012, 12:26 PM Reply Like
  • Jeremy Johnson, CFA
    , contributor
    Comments (783) | Send Message
     
    Well it's not like you can make the shares go away, someone has to own them.
    16 Apr 2012, 03:24 PM Reply Like
  • wapiti
    , contributor
    Comments (711) | Send Message
     
    Blue print for Obama and what he wants to do with US energy!
    16 Apr 2012, 12:48 PM Reply Like
  • formeraf
    , contributor
    Comments (6) | Send Message
     
    My guess is that BFR will befall the same fate...I been gone for a week.
    16 Apr 2012, 01:10 PM Reply Like
  • siamesepeter
    , contributor
    Comments (13) | Send Message
     
    I would really like to know how is she going to pay that 51% to Rep`sol, since the country is absolutely "broke". Not one single buck in the Central Bank since many months ago. So I expect Spain will be claiming legally and soon.
    16 Apr 2012, 07:14 PM Reply Like
  • Tack
    , contributor
    Comments (13579) | Send Message
     
    Hey, that's the beauty of expropriating private assets by legal edict in a socialist utopia. There are no laws that need to be observed, so the government can set whatever price they deem fair. Unless YPF or REPYY has its own army, what are they going to do about it? They can follow the pattern of Venezuela, Cuba and the former Soviet Union. No need to worry about having money or respect for property.
    16 Apr 2012, 07:28 PM Reply Like
  • User 122288
    , contributor
    Comment (1) | Send Message
     
    Are Apache (APA) Argentine oil operations next?
    18 Apr 2012, 12:47 AM Reply Like
  • wapiti
    , contributor
    Comments (711) | Send Message
     
    Based on Tack's comments (which are correct) we, the citizens of the USA better think about Obama and his socialist views.
    18 Apr 2012, 08:54 AM Reply Like
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