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Author: TMFCogitarius Big gold star, 5000 posts Old School Fool Home Fool Global Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 825  
Subject: Bolivia honors its May day tradition Date: 5/4/2012 1:43 PM
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'Bolivian President Evo Morales seized the local assets of Spanish power grid operator Red Eléctrica Corp. and ordered the armed forces to take over its installations, the latest move against Spanish corporate interests in Latin America.

The declaration on Tuesday came on the heels of Argentina's move in April to seize a 51% stake in Argentine oil company YPF from Spanish oil major Repsol YPF SA, which had held a 57.4% stake.'

'Bolivian nationalizations on International Workers Day

May 1, 2006 -- Months after he takes office, Evo Morales's government seizes Bolivia's natural-gas reserves, allowing a more restricted role for private companies
2008 -- The government nationalizes the assets of the largest telephone company, run by Italy's Telecom Italia, as well as several energy industry companies.
2010 -- Four electric companies are nationalized, including the local units of French utility GDF Suez and British firm Ruralec Plc.
2011 -- Morales attempts to go after mining companies from Canada and Switzerland, but pulls back due to opposition from labor unions.
2012 -- Government seizes Spanish firm Red Electrica's local unit'

'Mr. Morales, since taking office in 2006, has used May Day celebrations to nationalize different sectors of the economy. Exactly six years ago, he took over natural-gas fields by ordering foreign companies to turn over their production to state-owned firm Yacimientos Petrolíferos Fiscales Bolivianos.

Two years ago, the Morales government assumed control over most of Bolivia's electrical generation by seizing British company Ruralec, which has since filed a suit against Bolivia through international courts.'
http://online.wsj.com/article/SB1000142405270230391690457737...
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