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Posts Tagged ‘Kenneth Bell’

EU senior officials said the Bolivian nationalization of the company have the right to do as long as they provide a fair compensation. Kenneth Bell, Head of EU Delegation to Bolivia, explain the nationalization is a sovereign right of the Bolivian government. This was said by Bell a week after Bolivian President controversially mastered four electricity companies. Two power generation companies are among the British and French companies.

Police control of the company on a warrant following a Labor Day President Evo Morales nationalized. In an interview with Bolivian newspaper La Prensa, Bell pointed to events in Europe.In this area a number of banks taken over the country because of the global economic crisis. He continues, although recently there nationalization, European companies such as Repsol, Total, and British Gas remained active in Bolivia.

Sunday local time, according to local media, Bolivia took over the electricity generation company owned by Glencore International AG, Switzerland. Expropriation took place a day after President Evo Morales decreed the nationalization of three power generation companies. ”From now on, power-Antimonio Vino state,” said Prime Minister Oscar Coca, as quoted by news agency Erbol.

“We took over the power company. State now controls 80 percent of electricity production for Bolvia. Sooner or later, the state will acquire 100 percent,” Morales said in a press conference. Friday last week, Morales visited Venezuela to sign trade cooperation and trading of natural gas with socialist leader Hugo Chavez.