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Bolivia follow Argentina in seizing control of Spanish companies
Following Argentina's recent example in seizing control of YPF from Spain's Repsol, the Bolivians have jumped on the bandwagon.
The Bolivian President, Evo Morales, has ordered his Army to assume control of 'La Transporta Electricidad', 99.4% of whose shares are owned by by Spain's REE Red Electrica Espanola, and who operates and owns 73% of the electricity infrastructure in Bolivia.
Morales called the move "A just homage to the Bolivian people who have fought for the recovery of the resources", and maintained that he would pay a fair price to REE to the value of what they had invested in the country.
The Spanish Government issued a statement saying that it was simply studying the move and considering any action to be taken, especially concerning the Military intervention emplyed by the Bolivians.
Latest News & Stories
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- Zara founder to spend EU320 Mln on breast cancer-screening for Spanish hospitals
- As Brexit rolls on, applications from Britons for Spanish citizenship surge
- 2.5 Million Passengers per year to arrive at Murcia's Corvera Airport
- Spain PM pledges EU 4.2 Bln investment in Catalonia
- Spain's growth may top 2.5 percent for next two to four years - minister
- Spainís Social Security shortfall rises to Ä18.6 billion in 2016
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- Spain's Jazztel to increase fibre speed to 300Mbps
- Spanish government will have enough support to pass budget - minister
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