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Calderón under fire over statements on YPF

Wednesday, April 18, 2012

Mexico's President Felipe Calder'on criticized his Argentine counterpart Cristina Fernandez on Monday for planning to seize control of the country's leading energy company YPF.

Calderon said Fernández's plan would damage chances for future foreign investment in Argentina and hurt YPF's controlling shareholder, Spain's Repsol, in which Mexico's state oil monopoly Pemex holds a 10-percent stake.

Fernández earlier drew swift warnings from key trade partners after she said she would seek to expropriate Spanish company Repsol's 51 percent stake in Argentina's YPF.

Source: Reuters