Bloomberg News

Red Electrica Chairman Seeks Compensation From Bolivia, ABC Says

May 06, 2012

Red Electrica Corp. SA (REE) Chairman Jose Folgado plans to meet with Bolivia’s energy minister tomorrow to defend the Spanish company’s interests, ABC reported today, citing an interview with Folgado.

Following the decision by the Andean country to expropriate Red Electrica’s local unit, Folgado will seek compensation that includes both the value of the assets and investments made since 2002, according to the newspaper.

To contact the reporter on this story: Manuel Baigorri in Madrid at mbaigorri@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net


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