Fenosa refuses to sign memorandum with Nicaragua

Spain's chief diplomat, Miguel Ángel Moratinos, has personally asked his counterpart in Nicaragua, Samuel Santos López, for "secure justice" and "guarantees" for Spanish companies with operations in Nicaragua. The request was made after Madrid was made aware that Unión Fenosa refused to sign a memorandum of intent with the government of Nicaragua.

Tuesday, May 6, 2008

In a note to Santos published in a press release on the web site of the Spanish Minister of Foreign Affairs and Cooperation, Moratinos said, "Spain is the second largest foreign investor in Nicaragua, after the United States.
Santos made a one-day trip to Madrid as part of a tour of several European countries. The Nicaraguan chancellor said his talks with Moratinos were "frank, quiet and fraternal but objective." He promised that Spain would maintain the same level of cooperation with Nicaragua, and would increase the number of projects essential for the nation's development.
Moments before the meeting began, Unión Fenosa announced that it would not sign a memorandum of intent with Nicaragua, citing last-minute changes the government had made in the draft memorandum.
Jorge Katín, Fenosa's Manager of Communications, said it's still possible that a memorandum will be signed between, but the case is being reviewed by Fenosa's Spanish headquarters.

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