YPF Likely to be Nationalized by Argentinian Government

Currently, trading in shares of YPF

are halted. Shares fell about 11% prior to being halted on the session. Earlier, Argentina's President announced that she would be submitting a bill that, if passed, would see the Argentinian government control 51% of the the company. Benzinga spoke to a YPF analyst, who stated that it was very likely that the bill would become law. Interestingly, Spanish financial institutions hold a large percentage of the company. Spanish fired back, stating that they viewed the firm's interests as being in line with Spain's national interests.