Bolivian president Eva Morales got to work this Christmas holidays by once again expropriating Spanish holdings, this time in Iberdrola. The deal resembles one carried out last May with Transportadora de Electricidad, a subsidiary of Red Electrica (REE). The price of the deal has not been finalized.
Morales?s strategy resembles the one used by Argentina?s president Cristina Kirschner when she expropriated YPF oil holdings without any warning and promised ?fair compensation? that Spain never saw. And Morales?s plan resorts to naming an independent company, whose mission is to tangle the process and cause delays. REE?s wants to take the case to international arbitration court, which is the best response to a seizure that looks a lot like pillaging.
