The Bolivian government has taken full control of a key gas pipeline company after talks with the foreign firm that held a controlling stake broke down. It is the latest move in the Bolivian president’s recent effort to nationalise key industries.
President Evo Morales said Transredes had been seized after US company Ashmore Energy International failed to agree to a share buy-back. Transredes transports Bolivia’s natural gas to clients in Brazil and Argentina.
President Morales said “They wanted to be bosses, and have us be the employees. We’re a small country – sometimes they call us underdeveloped – but we have lots of dignity. Partners are welcome, but we will not accept bosses.”