19/11/2008 04:56
Buenos Aires Herald - Nota - Argentina
- Pág.3
Clear for takeover
>Aerolíneas Argentinas
The committee, which is controlled by the
ruling Victory Front, said it made the decision
after reviewing a letter sent by a Marsans
executive, Horacio Fargosi, in which he
rejected the company's "negative value,"
which has been set by a public agency at
2.5 billion pesos.
Fargosi said at the hearing yesterday that
he could not voice an opinion on what the
price of the company should be because he
was not following negotiations. The statement
forced the bicameral hearing to adjourn.
But ruling party lawmakers then called a
press conference to announce that they had
a letter signed by Fargosi's lawyers in
the case's file rejecting that the "price
could be zero or less than zero." The
committee said that it could thus issue
its recommendation.
"We sponsor the approval of a law for
Aerolíneas Argentinas and Austral
to be subject of an expropriation,"
the committee's statement said.
The decision, announced by ruling party
lawmaker Mariano West, opens the door for
the companies nationalization. According
to the company a third opinion would be
sought if the parts failed to agree on a
price.
But Congress has argued it has the last
word on the price of AerolíneasAustral,
according to a law regulating the takeover
bid passed in September. Marsans has vowed
to take its case to an international arbitration
tribunal if it's not satisfied with the
federal govemmnet's offer.
"A bill must be written and Parliament
must debate it. If there is a majority,
it will decide the expropriation of the
companies," West said.
With news agencies
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