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In Brief / FOREIGN

Bolivia seizes control of firms

May 02, 2008|From Times Wire Services

Bolivia's leftist President Evo Morales decreed a takeover of leading Bolivian telephone company Entel after accusing the company of failing to meet commitments to expand phone network coverage.

He also announced a $6.3-million deal with Spanish oil company Repsol, which will cede control of its Andina subsidiary to the government.

The government will pay more than $37 million to acquire controlling stakes in three other energy companies.

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