Argentina May Use Bank Reserves to Buy YPF, Barclays Says
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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.
“We are not in the camp of those that think that Argentina cannot afford to make an offer to Repsol and the rest of the shareholders,” New York-based analyst Sebastian Vargas said today in a note to investors. Using central bank reserves to make an offer for YPF SA “should also be considered,” he said.