Carlos Slim's YPF S.A. (YPF) Stake is Not All It's Cracked Up to Be

June 15, 2012 12:56 PM EDT
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Shares of YPF S.A. (NYSE: YPF) are flying today following the news after the close that billionaire Carlos Slim has taken an 8.4 percent stake in the company. However, some are suggesting the new stake may not be all that it is cracked up to be.

Earlier in the year, Argentina nationalization YPF. As a results of the nationalization Spain's Repsol lost control of the company, YPF defaulted on a loan and an international-group of banks seized shares.

While it is not entirely clear, Slim's stake could be tied to this. It also doesn't make sense that Slim is buying shares of a nationalized company.

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