It buys aggressive of YPF, S. A.

National
Madrid threatens Argentina
It buys aggressive of YPF, S. A.
By: Carlos Damián April 19, 2012
Argentina: helm’s blow
México. - Spain threatens declarations; "Spain will take clear and overwhelming measures” before “a hostile action” and “doubly discriminatory action” for a Spanish company", the conservative Mariano Rajoy's government noticed by means of his ministers of External Matters and of Industry, Jose Manuel Soria, respectively. In answer to the expropriation initiative for the Argentinean State of 51 percent of the company of hydrocarbons YPF, the Spanish administration announced that “in some days” it will decide the consequences that this operation will have in the bilateral relationships. Repsol affirmed on the other hand that “the expropriation is illicit and gravely discriminatory."

The central headquarters of the company of hydrocarbons Repsol was an anthill of private meetings, to closed and secret door, in those that there was direct communication as much as with its speakers with the Spanish government. It was supposed 20 percent of the total value and of business of Repsol, the expropriation of YPF, untied the concern the uneasiness and the indignation in a part of the company group, the politics and the Spanish media. In spite of the fact that practically it was continued with the same interest and in directs the intervention of the federal executive's announcement in Argentina, Cristina Fernandez de Kirchner.

The European commission gave a verbal back to Spain
The president of Repsol, the Catalan manager Antonio Brufau, also stayed in silence up to 11 in the night, when it was informed to the organ regulator, the National Commission of the stock market (CNMV), by means of the calls excellent facts", in those that it was expressed that the expropriation is professedly illicit and gravely discriminatory that he/she has not been justified in way some the public utility that is pursued with the same one, and that it supposes a patent nonfulfilment of the obligations assumed by the Argentinean State in the privatization of YPF, violating this way the most fundamental principles of artificial security and of trust of the community international investor, for what is reserved expressed and fully all the rights that could correspond him according to the Argentinean right.

While these excellent facts happen Pemex he/she has 9.46 percent of actions invested in the referred Spanish transnational company, and the Spanish oil company also informed that the countable value of 57.43 percent possesses of YPF it is of 4 thousand 122 million Eurus, at the time that he/she informed that I eat consequence of the expropriation the net debt of the Grupo Repsol he/she will decrease in a thousand 600 million Eurus. The Spanish chancellor tinged that this government doesn't make important decisions in meetings of urgency", but if he noticed that in some days, Spain will take clear and overwhelming measures."

Pemex suffers economic loss due to Repsol
The actions that Pemex bought to Repsol last year (2011) they were a “sale’s option” to establish a floor or minimum price to be protected against the losses that it had the Spanish consortium, Juan it assured Jose Suarez Coppel, director of the State’s company, when underrating economic losses that this can suffer in front of the Argentina’s decision of nationalizing most of the actions of the Spanish oil company. Pemex Exploration's general director and Production, Carlos Morales Gil (CMG), it recognized that the affectation that will have Pemex for the decision of the Rosy House, will be the minus-value that presents the value of the stock position that Pemex possesses in YPF, S.A. CMG, it recognized that the determination taken by the Argentinean people, said we should respect."

Meanwhile Morales (CMG), he explained that Pemex doesn't have direct activities in Argentina, but yes it has them for conduit of Repsol, in the one which yes we have a stock participation and in the measure that affects Repsol it will affect Pemex". on the other hand, Carlos Colo, executive senior of YPF in Mexico, assured that the nationalization of the referred company in Argentina won't brake the expansion plans in that country, since these projects are of long maturation and “they are part of our strategic plan", and still in spite of this sovereign measure, YPF continues thinking to medium and long term.

Mexico will be intermediary with Argentina in the international conflict
For separate, the ministries of Economy and of Energy, it Bruno Ferrari and Jordy Herrera, they pointed out that the Mexican president's government analyzes the application that made Spain so that Mexico, in its quality of president of the G-20, be intermediary with Argentina in the conflict Repsol has more than enough. "They are topics that should talk to caution. The ministries of Energy and External Relationships surely prepare an opinion to respond to this", Ferrari said.

From Brussels, on the contrary of what the Spanish government, the European Commission waited it was limited to give a “verbal back” to Spain, when noticing that “ it lacks juridical instruments” to act against Argentina and that the measure doesn't affect the content of the bilateral treaty signed among the European Union (EU) and the country of the south cone in 1990. "We will underline the necessity to achieve solutions of mutual agreement that don't damage the climate of business and the relationships between the EU and Argentina". Karel of Gucht affirmed, and he added that “legally it is a bilateral problem and any paper doesn't exist for the EU with legal base in connection with Argentina or some type of mechanism of international arbitration". (La Jornada, política, p. 6, 17 de Abril, 2012)