Wednesday, May 2, 2012

Bolivia nationalizes Spanish power company

Bolivian President Evo Morales

Source: Press TV

Bolivian President Evo Morales has nationalized a Spanish power company and ordered its seizure.

On Tuesday, Morales issued the order nationalizing Transportadora de Electricidad SA (TDE), which is a subsidiary of the Spanish group Red Electrica Corporacion, AFP reported.

Bolivia will now take control of 99.94 percent of the company.

The company, which was privatized under the former Bolivian government of Gonzalo Sanchez de Lozada, has claimed that it owns and runs almost 75 percent of the electric power lines across Bolivia.

Spanish companies have been having a tough time in South America lately.

On April 16, Argentine President Cristina Fernandez announced the decision to expropriate the Spanish oil giant Repsol’s subsidiary, YPF, which was formerly a state-owned Argentine oil company.

She said that Argentina had to take back the oil company since it is the only nation in Latin America "that does not manage its natural resources."

Spanish officials said they were still collecting information about Bolivia's latest action, noting that it is a different situation from what has happened in Argentina.

No comments:

Post a Comment

Thanks for commenting on this post. Please consider sharing it on Facebook or Twitter for a wider discussion.

Russia Today (Live)

World News 2017

South Front Military Review 2017

Syria - News 2017

US News 2017

The Russian Perspective

Debate – Global Issues 2017

Current Affairs - Important Interviews – 2017

Important Information 2016 - 2017

Yemen News 2017

Turkey News 2017

Ukraine News 2016 - 2017

Palestine & Israeli Crime 2017

Iraq News 2017

Iran News 2016 - 2017

Important Documentaries

Viewpoint, Discussion & Opinion - 2017

Abby Martin – Empire Files

Global Economic News 2017

Egypt News 2016 - 2017

Libya News 2016 - 2017

Bahrain News 2016 - 2017

Sheik Imran Hosein - Islamic Eschatology

George Galloway – Comment & Opinion

English FA Cup 2016 – 2017

New Age Weather

Space News

Music for the Revolutionary Mind

Global Revolution LIVE!

Watch live streaming video from globalrevolution at

Japan’s 3 Nuclear Meltdowns STILL ongoing (News Censored)