We have updated our Terms of Use.
Please read our new Privacy Statement before continuing.

As bad as it gets

17 April 2012 By Fiona Maharg-Bravo

The Spanish energy group has been hard hit by the expropriation of most of its shares in Argentina’s YPF. Investors are pricing in zero compensation and wipeout on a YPF-backed loan. But with the strategy upended and a long legal fight ahead, the market pessimism is justified.

This content is for Subscribers only

 

Email a friend

Please complete the form below.

Required fields *

*
*
*

(Separate multiple email addresses with commas)