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Argentina, Repsol struggle to bridge gap over YPF compensation

A year after Argentina seized the local business of Spanish oil firm Repsol , there seems little prospect of a quick deal on compensation despite signs that both sides would rather avoid a costly, drawn-out legal battle.The Latin American country's lack of funds and its limits on the control private firms have over their investments - which could deter Repsol from accepting other assets in any settlement - pose major obstacles to a deal, according to analysts.Argentine President Cristina Fernandez expropriated Repsol's majority stake in YPF last May, accusing the firm of investing too little. Repsol denied the charges and filed lawsuits against the country for a loss valued at $10.5 billion.A year later the Argentine government, keen to rebuild relations with foreign investors and attract funds to develop a vast shale field, has held talks with a major shareholder in Repsol over a possible deal to side-step a long legal battle, a source familiar with the matter told Reuters.Repsol has ...

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