China's Sinopec (SHI +1%) is reportedly in talks to buy Repsol's (REPYY.PK stake in YPF (YPF +0.1%) for $15B. Repsol's chairman Antonio Brufau confirmed that certain companies have shown interest, but declined to comment on whether Sinopec was one of the interested suitors.
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%.
Argentina is hardening its intentions regarding YPF, with the Pagina 12 newspaper reporting the government has decided to take over the oil giant. The debate is now over whether to expropriate YPF, which is 57% owned by Spain's Repsol YPF (REPYF.PK), or buy a large enough stake to control its management. (previous)
YPF Sociedad Anonima is an integrated oil & gas company. It upstream operation consists of exploration, development & production of crude oil, natural gas & LPG. Its downstream operation includes refining, marketing & distribution of oil, among others.