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Bolivia nationalizes Spanish company

 
 
 
 
 
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Bolivian President Evo Morales

Bolivian President Evo Morales has nationalized (stole) a Spanish company that operates the country’s three main airports.

Morales said on Monday he had instructed the country’s ministry of public works, services and housing to take “full operational control” of SABSA, a joint venture of Spanish Abertis and airport authority Aena.

He also ordered the military to take over the control of the airports, La Paz, Cochabamba, and Santa Cruz, in an effort to “safeguard the public interest.”

The Spanish company has run the three airports since they were privatized in 1997. The contract was due to continue until 2025.

The Bolivian leader said the Spanish investors did not make promised investments and maximized “profits” at the Bolivia’s expenses.

Morales said an independent company would be hired to decide the amount of compensation for the Spanish company.

Spain’s Foreign Ministry reacted angrily to Morales’ move, saying it would “reconsider the whole of relations” with Bolivia in view of the “unfriendly act, combined with other similar measures” recently taken by the Bolivian government against Spanish firms.

The move was third nationalization that affected Spanish companies in Bolivia in 10 months.

On December 30, 2012, the Bolivian government also nationalized two electrical utilities, which belonged to Iberdrola, Spain’s largest energy group.

On May 1, 2012, the government took over Transportadora de Electricidad, owned by Spanish company Red Electrica, that owns and runs almost 75 percent of the electric power lines across Bolivia.

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  • t_

    THEY ARE COOL ! The south-americans are very cool, i admire them

  • Cascadian

    This is one of many ecomomic, environmental and political trends reshaping our world, which an author named Marshall Vian Summers calls “The Great Waves of Change”

    He’s written a book these “Great Waves” and how we can navigate the difficult times ahead. Its free online at:

    http://www.greatwavesofchange.org

  • Erwin Black

    Before any conclusions as (stole) read books: Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism.
    And: The Blood Bankers, by Henry

    Then you can talking about it.

  • Josh Steeler

    There is not (stole) in Press TV article. Basic principle of law is that from unlawfull process is not followed by rights. If you do not agree with that, then stolen property from your house should belongs to thieves. Great books as: Confesions of an Economic Hitman; and The Blood Bankers; are uncovering criminal practices of international mafia. When Smedley Buttler compared itself to Al Capone he make a joke from Capone that he operated his rocket on 3 districtx while Buttler operated rocket on 3 continents. On local level we call it mafia, mafia practices on domestic level became national security and on international level foreign policy. Names do not change criminal backround.

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