April 25, 2012 10:45 PM
- Text
Argentine Senate nears approval of YPF takeover
BUENOS AIRES, Argentina — Argentina's Senate is debating whether to approve the forced takeover of the YPF oil company from Spain's Repsol.
The expropriation bill is expected to pass easily. President Cristina Fernandez's allies control the Senate, and even opposition senators are generally saying they'll vote for the takeover even though they don't like the way Fernandez handled it.
Taking back Argentina's largest company from Spain's biggest company has proven hugely popular in the South American country, despite threats of retaliation from the Europe Union and fears of unintended consequences in the years ahead.
The session started late morning Wednesday and was still going 13 hours later. Sixty-two of the Senate's 72 members asked to speak about the proposal, and the vote appeared likely to come in the early hours of Thursday.
© 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The expropriation bill is expected to pass easily. President Cristina Fernandez's allies control the Senate, and even opposition senators are generally saying they'll vote for the takeover even though they don't like the way Fernandez handled it.
Taking back Argentina's largest company from Spain's biggest company has proven hugely popular in the South American country, despite threats of retaliation from the Europe Union and fears of unintended consequences in the years ahead.
The session started late morning Wednesday and was still going 13 hours later. Sixty-two of the Senate's 72 members asked to speak about the proposal, and the vote appeared likely to come in the early hours of Thursday.
Add A Comment +
Popular Now in MoneyWatch
- TSA defends pat-down of 4-year-old at Kan. airport
- 4 steps to achieve any goal
- 10 Best Countries To Live and Work Abroad
- 4 Things Not to Buy at Costco
- Confusion over content rights greets Google Drive
- TSA screeners charged in LA drug trafficking probe
- Why sloppiness is killing your job search
- Joshua Ledet continues to impress on 'Idol'
- Marines discharge sergeant for Facebook posts
- The 7 Interview Questions You Must Ask
- Making "bring your child to work day" meaningful
- Top 10 Places to Live in 2011
- The new rules on dressing for success
- The top 10 sales tactics that beat cold calling
- Do you have to sign termination papers?
- A better free credit score service
Latest CBS News Headlines
on Facebook
on CBS News
- Landmark church sex abuse case ends testimony
- Charles Taylor conviction sends warning to tyrants
- Texas regulators give approval to bury nuke waste
- Summary Box: Computer glitches worsen UAL 1Q loss
on Facebook
- Christians of the Holy Land
- Rush Limbaugh Arrested On Drug Charges
- After donated kidney fails, doctors recycle transplant in rare procedure
- Joy in the Congo: A musical miracle
on CBS News
