Tuesday, May 13, 2008

Chavez Power Grap Continues

President Hugo Chavez has signed a decree to nationalise Venezuela's biggest steelmaker, Ternium-Sidor.

Argentina's Techint, which owns 60% of it, has been given until the end of June to hand it over.

In the past two years the Venezuelan state has taken over foreign-controlled companies including cement, telecoms, oil, gas and electricity firms.


DKK

BBC -- Venezuela takes over steel firm

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