Bolivia nationalizes four power companies

LA PAZ, May 1 (BestGrowthStock) – Leftist Bolivian President Evo
Morales said on Saturday he had nationalized four power
companies, including a subsidiary of France’s GDF Suez
(GDFZY.PK: ) (GSZ.PA: ), in his drive to tighten state control over
the economy.

Morales said the state now controls 80 percent of
electricity generation in the impoverished Andean nation, and
was aiming for complete government control over the sector.

The power companies include Corani, which is 50 percent
owned by Inversiones Ecoenergy Bolivia S.A., a subsidiary of
France’s GDF Suez (GDFZY.PK: ) (GSZ.PA: ), and Guaracachi, which is
50 percent owned by Britain’s Rurelec PLC (RUR.L: ).

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(Reporting by Eduardo Garcia; Editing by Simon Gardner and
Stacey Joyce)

Bolivia nationalizes four power companies