Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

YPF Rises as Nationalization Fears Recede: Buenos Aires Mover

March 1 (Bloomberg) -- YPF SA, Argentina’s largest energy company, rose the most in a decade after President Cristina Fernandez de Kirchner didn’t address a potential nationalization of the company as speculated in local media reports.

YPF surged 17 percent to 146 pesos in Buenos Aires trading, the most since Jan. 2002.

Fernandez announced no takeover or measures against YPF in her speech to Congress today. Newspaper Ambito Financiero reported yesterday she could announce a takeover or intervention in Buenos Aires-based YPF in the annual speech to Congress, without saying where it obtained the information. The government has been putting pressure since January on oil companies to increase investments after fuel imports doubled last year.

YPF plunged 14 percent between Feb. 28 and 29, the biggest two-day slide since March 2009, on the nationalization speculation. The stock has declined 34 percent in the last 12 months, more than a 20 percent drop in Argentina’s benchmark Merval index.

Argentina and Spain’s governments formed a working group to resolve their “differences” over YPF, Spain’s Industry Minister Jose Manuel Soria said today before Fernandez’s speech. YPF’s majority stakeholder is Repsol YPF SA, Spain’s largest energy company.

YPF’s board meeting on Feb. 23 was declared “irregular” yesterday by the country’s securities regulator after three government officials were barred from attending the meeting with Roberto Baratta, the government’s board representative.

To contact the reporter on this story: Rodrigo Orihuela in Rio de Janeiro at

To contact the editor responsible for this story: Dale Crofts at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.