Argentine President Cristina Fernández vindicated her decision to expropriate YPF, assuring that her Government “remains convinced that all Argentines should be in control of the country’s natural resources.”
Fitch Ratings revised Uruguay's rating outlook to positive from stable on Tuesday, citing the country's ability to cut external and budget vulnerabilities. However Fitch warns about the deteriorating situation in neighbouring Argentina and inflation.
Spain’s energy corporation Repsol describes as ‘false’ Argentine government allegations that its affiliate YPF “had not invested sufficiently” in its hydrocarbons interests in Argentina.
Vodafone Group Plc agreed to acquire Cable & Wireless Worldwide Plc for 1.04 billion pounds (1.7 billion dollars) in cash, adding a UK fixed-line network to its mobile-phone system and gaining business customers.
Latin American independent oil and gas explorer GeoPark Holdings Ltd is planning a major expansion of its activities in 19 licensed blocks in three countries with the purpose of significantly increasing oil and gas production in the next 18 months, according to a report released by the company.
Rating Agency Standard and Poor’s (S&P) downgraded Argentina’s economic and financial outlook to “negative,” after the expropriation of YPF, which endangers the “B” rating the country has for its sovereign debt.
Rating Agency S&P announced on Thursday it was downgrading Spain-based energy company Repsol-YPF after Argentina’s government announced the expropriation of 51% of its shares. The rating was lowered from BBB to BBB (minus), the agency said in a statement.
Bayerische Motoren Werke AG (BMW), the world’s largest luxury automaker, posted a 30% drop in first-quarter sales in Brazil due to a tax rise for imported cars, said Henning Dornbusch, the company’s country head.
Senator from the Argentine ruling majority and former cabinet chief, Aníbal Fernández assured that the government “will pay the real price for the expropriation of YPF and not what Repsol’s chairman (Antonio Brufau) wants.”
Colombia is available to mediate between Spain and Argentina to find a solution to the dispute over the seizure of YPF from Repsol, said Colombian Vice-president Angelino Garzón.