LatinNews Daily Report - 30 May 2012

BUSINESS | Repsol to negotiate YPF compensation with next Argentine government. On 29 May Antonio Brufau, the CEO of Spain’s Repsol, presented the company’s strategic plan for the period 2012-2016 in Madrid, Spain, and said that he foresees the “long lawsuit” with Argentina before the World Bank’s International Centre for Settlement of Investment Disputes (ICSID) could take “three or four years” to be resolved. Brufau announced Repsol had created a special legal section within the company to ensure Repsol’s victory. “Sooner rather than later, something is going to happen in Argentina so that we can sit down to negotiate. That might not happen with this government [of President Cristina Fernández], but probably with another one, comprising of the sensible politicians that Argentine has”, he stated during the press conference.

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