Bolivia’s Morales takes over 3 power firms-police

LA PAZ, May 1 (BestGrowthStock) – Bolivian police took control of
the offices of three power companies, following a
nationalization decree issued by leftist President Evo Morales,
police head Oscar Nina told Reuters on Saturday.

“We have taken control (of the offices) following a
presidential decree that calls for the nationalization of
ELFEC, Corani and Valle Hermoso,” Nina said.

Presidential spokesman Ivan Canelas said Morales was due to
make an announcement early on Saturday regarding the state take
over of several power companies.

Corani is 50 percent owned by Inversiones Ecoenergy Bolivia
S.A., a subsidiary of France’s GDF Suez (GDFZY.PK: ) (GSZ.PA: ),
while Valle Hermoso is run by a Bolivian private firm called
Pan American Investments.

ELFEC is the power company that supplies the central
Cochabamba region.

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

Bolivia’s Morales takes over 3 power firms-police