Nicaragua 'playing with fire' in clashes with Spanish investors
The Nicaraguan government is "playing with fire" in its disputes with two Spanish companies, Unión Fenosa and Grupo Barceló, warned José Escalante, president of the Spain-Nicaragua Chamber of Commerce.
Thursday, May 29, 2008
The government is expected to be sued by Fenosa, the nation's leading distributor of electricity in a dispute over the terms under which the state aims to take a 16 percent stake in the company's equity.
Spain's Unión Fenosa, the leading distributor of electricity in Nicaragua, is reported to be planning to sue the government for US$150 million in an international tribunal.
Executives from the Grupo Barceló repeated this Thursday that they owe nothing to the State of Nicaragua and refused to make further comments on the lawsuit presented by the government.
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