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YPF will not be privatized and three other companies will operate jointly

The Government modified the omnibus bill so that it can be approved in Congress.

This Monday the Government modified the project of omnibus law for it to be approved in the Congress. The privatization chapter contains new features, and in this context the official letter clarifies that the company YPF It will not be privatized.

Meanwhile, the new official text stated that companies Nuclear, National Bank and ARSAT established that the State can only carry out a “partial privatization, with the State having to maintain control of the company.”

In addition, the participation of the Bicameral Privatization Commission of Law No. 23,696 was incorporated to monitor the respective procedures. On the other hand, article 9 was eliminated and the current wording of article 35 of Law No. 24,804 was expanded in order to maintain the power of veto in some decisions of Nucleoeléctrica Argentina Sociedad Anónima.

Finally, Article 11 was eliminated, maintaining the obligation of the State to stop an action with the right to veto for decisions that imply the closure of the activity.


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