Latin America News
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Repsol YPF SA’s Argentine unit said its shale oil resources at the Vaca Muerta formation in the south of the country probably hold about 23 billion barrels, almost half the size of Brazil’s so-called pre-salt reserves.
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Redecard SA, Brazil’s second-biggest card-payment processor, rose above the price Itau Unibanco Holding SA offered minority shareholders yesterday on speculation Itau will raise its bid.
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Argentina has the cash reserves to make a tender offer for Repsol YPF SA’s local unit, the country’s largest energy company, and will likely put further pressure on the industry to boost output, Barclays Capital said.
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Vitro SAB, the glassmaker that defaulted on $1.5 billion of bonds in 2009, jumped the most in three weeks after a Mexican judge approved its restructuring.
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