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03/10/2006:

"Bolivia Proposes Taking Back Control of Former State-Owned Firms"

Bolivia's government plans to study how to buy back majority stakes in public service companies - including oil companies Chaco and Andina - that were partially privatized in the 1990s, development minister Carlos Villegas said in his ministry's newsletter.

The government will search for a means to obtain 51% stakes in the privatized firms so it can name their board members, Villegas said.

The government of President Evo Morales is seeking to take control of 10 companies partially privatizedover the past decade, local press reported.

The companies include national carrier Lloyd Aereo Bolivia (LAB) and telecoms operator Entel.

Petrolero Chaco is currently controlled by Argentine firm Pan American Energy, in turn controlled by the UK's BP (NYSE: BP) and Argentina's Bridas, while Petrolero Andina is controlled by Spanish oil company Repsol YPF's (NYSE: REP) local unit.
rigzone.com