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Bolivia expropriates Spanish energy subsidiaries

 The exterior of Spanish energy company Iberdrola is seen, in Madrid, Spain, Saturday, Dec. 29, 2012. President Evo Morales has nationalized electrici...
 Marked with signs reading: "Nationalized," soldiers stand guard outside the offices of Electropaz, an electricity distribution subsidiary of the Span...
 Military police stand guard outside Transportadora de Electricidad belonging to Spanish company Red Electrica in La Paz, Bolivia, Saturday, Dec. 29. ...
 Military police stand guard outside Transportadora de Electricidad belonging to Spanish company Red Electrica in La Paz, Bolivia, Saturday, Dec. 29. ...
 The exterior of Spanish energy company Iberdrola is seen, in Madrid, Spain, Saturday, Dec. 29, 2012. President Evo Morales has nationalized electrici...
 In this photo released by Bolivia's Presidency Press Office, Bolivia's President Evo Morales signs a decree allowing the takeover of shares in Empres...

Spain Bolivia Expropriations

The exterior of Spanish energy company Iberdrola is seen, in Madrid, Spain, Saturday, Dec. 29, 2012. President Evo Morales has nationalized electrici...

Bolivia Spain Expropiations

Marked with signs reading: "Nationalized," soldiers stand guard outside the offices of Electropaz, an electricity distribution subsidiary of the Span...

Bolivia Spain Expropiations

Military police stand guard outside Transportadora de Electricidad belonging to Spanish company Red Electrica in La Paz, Bolivia, Saturday, Dec. 29. ...

Bolivia Spain Expropiations

Military police stand guard outside Transportadora de Electricidad belonging to Spanish company Red Electrica in La Paz, Bolivia, Saturday, Dec. 29. ...

Spain Bolivia Expropriations

The exterior of Spanish energy company Iberdrola is seen, in Madrid, Spain, Saturday, Dec. 29, 2012. President Evo Morales has nationalized electrici...

Bolivia Spain Expropiations

In this photo released by Bolivia's Presidency Press Office, Bolivia's President Evo Morales signs a decree allowing the takeover of shares in Empres...

President Evo Morales has nationalized electricity distribution subsidiaries of the Spanish energy company Iberdrola.
Morales issued a decree Saturday allowing the takeover of shares in Empresa de Electricidad de La Paz (Electropaz) and Empresa de Luz y Fuerza de Oruro (Elfeo), which supply energy in the Andean nation.
In a public act at the government palace, Morales also announced the expropriation of an investment management company and a service provider belonging to the Spanish energy giant.
Morales said he had "been forced to take this step" to ensure that electric service rates remained "equitable" in the regions of La Paz and Oruro. Soldiers guarded the installations of the electricity distribution companies, marked with signs reading: "Nationalized."
Telephone calls and emails seeking comment from Iberdrola in Spain were not immediately answered.


Updated : 2021-04-12 09:09 GMT+08:00