FINANCIAL TIMES: Argentina is to renationalise YPF, its biggest oil company, ousting the Spanish group Repsol as majority shareholder and prompting a furious row with Madrid.
In a move likely to have significant investor and diplomatic fallout, Cristina Fernández, Argentina’s president, sent a bill to Congress on Monday to put 51 per cent of YPF in state hands…
A visibly angry Ms Fernández made the announcement on live television to a cheering audience at the government palace. Rejecting recent criticism from Spain, Ms Fernández said she would not bow to foreign pressure. “I am a head of state and not a hoodlum,”’ she told business, union and political leaders in the audience… (more)
EDITOR: She is half right!
