Bolivian army seizes control of Spanish energy business TDE
BOLIVIA followed in Argentina’s protectionist footsteps yesterday as it nationalised a local unit of Spain’s Red Electrica, blaming a lack of investment in the country.
Bolivia’s leftist President Evo Morales ordered the army to take over the Cochabamba headquarters of the power transmission company known as TDE.
The move came just two weeks after Argentina decided to take control of YPF, the country’s biggest oil firm that was majority owned by Spanish firm Repsol.
Buenos Aires’ decision was slammed by many in the international community but celebrated by some of its South American neighbours.
“In honour of all Bolivian people who have struggled to recuperate our natural resources and basic services, we are nationalising Transportadora de Electricidad (TDE),” Morales said during his official address for May Day, also known as International Workers Day.
“Bolivia still needs partners, but not owners,” he said after ordering the army to take over TDE’s installations.