Repsol denies Chinese 17 billion USD offer for YPF

Tuesday, August 11th 2009 - 12:13 UTC

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Spain’s largest oil producer Repsol-YPF denied receiving an offer for its Argentine YPF unit following a report that Chinese companies had proposed buying its stake. Read full article

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Bubba
Selling YPF unit to the Chinese would be like inviting a vampire into your house, you will be sucked dry and enslaved..
Aug 11th, 2009 - 02:01 pm - Link - Report abuse 0
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claubruroe
The USA rejected an acquisition of an oil site a couple of years ago from particular countries, China has this sector closed to foreign control. As the main Chinese company belongs to the State, it would amount to foreign Chinese government control that may open the door to controlling other companies in Latin America and thus a strategic sector for the development of the whole region, without reciprocity. I wonder if Goldman Sachs, the deal advisor, knows in which manner this may affect the continent, including its own country -the US- in the future. Instead, the best advice would to let the Argentina State to retake the majority control, and leave open minority stakes for reciprocity to the Chinese and others... including Repsol -Spain. That would be the very best in any case.
Aug 11th, 2009 - 03:25 pm - Link - Report abuse 0
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