Argentina Can’t Afford to Nationalize YPF, Banco Santander Says
This article is for subscribers only.
Argentina’s government can’t afford to buy YPF SA and is unlikely to do so, Banco Santander SA said after Pagina/12 newspaper reported that officials discussed a takeover of the country’s biggest oil company.
President Cristina Fernandez de Kirchner is pressuring Buenos Aires-based YPF to cut dividends to stem capital flight and bolster foreign reserves, Santander analysts led by Maria Eugenia Fernandez Pouchan said in a report today. Santander has a “buy” recommendation on YPF shares.