MercoPress. South Atlantic News Agency
Mexican billionaire Slim holds 8.4% of re-nationalized YPF shares
The family of Mexican billionaire Carlos Slim owns 8.4% of YPF shares, Argentina's recently re-nationalized oil and gas company said in a filing with the US Securities and Exchange Commission on Thursday. Read full article
Comments
Disclaimer & comment rulesI will like to hear Mexican president Calderon complaining now.
Jun 15th, 2012 - 03:37 am - Link - Report abuse 0He won't Marcos, Mr Calderon is a corrupt figure and suck up to Mr Slim the lebanese and will never challenge him. Mr Calderon talks tough, but is a puppet in that corrupt cesspit, named Mexico.
Jun 15th, 2012 - 06:34 am - Link - Report abuse 0Fido, Marcos,
Jun 15th, 2012 - 10:23 am - Link - Report abuse 0Calderon has opposed Slim's businesses in just about every industry, in television, Slim tried to create his own television station and was stopped by the federal anti-trust agency, in oil, in telephone.
Not that Mr. Calderon is fighting a big monopoly on his own, there are different industrial groups and interests in Mexico and Slim does not control everything, in fact both Fox and Calderon were supported by industrial groups challenging Slim.
As it is, Peña Nieto is also going to oppose Slim. Rare as it may seem, it is Lopez Obrador who acts as Slim´s puppet, his party has supported legislation to protect his monopoly.
All of Latin America is a corrupt cesspit, many members of Dilma´s cabinet have been caught on corruption charges, Argentina suffers from corrupted populism. In Mexico there have been transparency reforms too, so it is not the only country trying to fight corruption.
Well lets hope he productively invests. If he doesn't, they can always expropriate the 8.4% =)
Jun 15th, 2012 - 12:04 pm - Link - Report abuse 0(4) Don’t worry Mr. British_Kirchnerist……………
Jun 15th, 2012 - 05:34 pm - Link - Report abuse 0Carlos Slim, the richest man in the world since 2010, is well advised about Argentina……..:
“Carlos Slim, hired Juan Manuel Abal Medina as an adviser for his growing interests in Argentina, and in 2007, he was invited by outgoing Argentine President Néstor Kirchner to join the cabinet of his wife and successor, President Cristina Fernández de Kirchner.”
http://en.wikipedia.org/wiki/Juan_Manuel_Abal_Medina
3 JoseAngeldeMonterrey
Jun 15th, 2012 - 06:59 pm - Link - Report abuse 0You mentioned Lopez Obrador, wasn't him the candidate who got the elections stolen from him by Mr Calderon?
Monterrey o los Tigres?
Saludos
Marcos,
Jun 16th, 2012 - 12:30 am - Link - Report abuse 0Monterrey!
Lopez Obrador never really proved the elections were stolen. He is a populist and a potential Hugo Chavez for Mexico, he lies often, too often, and he is always trying to be the victim of the system, dressed as a sheep, he is really an old wolf.
Many think he is a leftist, he is not. He is just an expriista of the old guard who wants to return to power.
$1 billion dollars for for 8.4% of YPF. Where is the $7 billion dollars a year coming from for the next 5 years? Shale oil extraction is highly speculative and capital intensive.
Jun 16th, 2012 - 07:07 pm - Link - Report abuse 0The best chance for Argentina would be cooperation with the major oil companies to develop your offshore oil and gas industry.
Unfortunately the short sighted attitude of the Argentine government makes chances of investment, joint exploration and development unlikely.Brazil is the benefactor.
To tear up the hydro carbon agreement with the Falklands was a major mistake, the expertise for deep water drilling technology was developed in the North Sea by US,UK,Dutch ,French and Norwegian companies.
Its not too late to be nice to your Falklands neighbours, joint ventures and cooperation could transform your economy.
Nationalism and machismo is counter productive. Argentina is being left behind.You are paying a fortune for LNG imports.
On top of all this, Slim`s telephone communication service in Argentina (Claro) works the poorest of all. But there are plenty of Claro offices and advertisements.
Jun 17th, 2012 - 05:15 pm - Link - Report abuse 08-Self determination:
Jun 18th, 2012 - 12:49 pm - Link - Report abuse 0I always read from you all kind of sh*t about Argentina-
I´m sure Carlos Slim for you is an idiot because invest in YPF.
Don´t worry about OUR shale: I think companies such Exxon, TOTAL, Petrobras, will be able to invest whit us-
What about people in Malvinas? to be nice whit who?you, expoliators guys, whit your truchas companies? No thank you-
We pay fortune yes.... and we want to change that-
Regards-
Slim is taking on some stock he had already bought. However the fact that he is keeping a stake in the company is definitely a positive sign for the investor community.
Jun 18th, 2012 - 04:24 pm - Link - Report abuse 0@10 Rosarino
Jun 19th, 2012 - 10:41 am - Link - Report abuse 0Due to the default of the Eskanazis Petersen group,Carlos Slim has been forced to buy these shares as collateral for the original loan.It is not an investment of his choice.As YPF shares are at a 10 year low he might even make money out of it.
Your government is putting a very positive spin on this “investment”.(not like them eh?)
Where is the other $35 billion coming from?
There is no doubt Argentina has huge shale oil reserves, the problem is the investment required ,building wells quickly enough, to pay for your energy imports.Repsol has also been forced to buy another 6% against their wishes and will have a seat on the YPF board.
I think you will find Petrobas has heavy financial commitment to their own offshore industry , and encouraging foreign investment from China,US, Europe. It looks a safer place to invest.
I hope YPF succeeds with its 5 year plan, if it does I will congratulate you.I will watch with interest.
The people of the Falklands /Malounes just want to live in peace with their neighbours just as they did in 1982.Stay warm.
Saludos.
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