YPF shares plunge more than 10.2%

Once again, YPF shares collapsed as rumours of the Government taking control of the oil giant increase. After edging down more than 7 percent, today the company’s shares plunged 10.2 percent.

According to Ambito Financiero newspaper, the landing of the national government on the local branch of Spanish Repsol is imminent. Likewise, officials are considering a legal framework that will allow the State to participate in the management of the company by setting an intervention.

On the other hand, the tabloid mentioned the government is already working on several preliminary versions for a draft bill that would allow the ANSeS, through the Guarantee Fund for Sustainability, to directly buy shares of YPF-Repsol until it grabs absolute control of the company.