Argentina, or rather, Cristina Kirchner has decided theexpropiation of shares REPSOLin YPF has got. At least almost all, because Argentina will expropriate a 51% of YPF from the 57% REPSOL possessed.
But can we call this “expropriation”? Or is a simple THEFT?
Why the 51 % in the hands of REPSOL? Why not prorated between all shareholders?
Only one shareholder is expropriated. This is just an attack on the shareholder, simply for being a Spanish company?
Of course it has all the earmarks of an attack to Spain, simply.
The price paid by Repsol for all YPF was about 13000 million EUR. Now in the stock market YPF is worth less than6000 millions euros, after the falls following rumors of expropriation and the withdrawal of concessions, but earlier this year it worth twice.
Then, one could say that their market price is between 6000 and 12000 million EUR. Rather the 12000 million euros in January of 2012.
What will be the assessment carried out by the Argentines to the valuation of expropriation?
I am afraid that the result will lead us to the conclusion that the only thing which aims to Argentina is a robbery to REPSOL.