Repsol shareholder Caixabank and Argentina in talks over YPF - source

MADRID, March 5 Tue Mar 5, 2013 12:03pm EST

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MADRID, March 5 (Reuters) - Caixabank, shareholder in Spanish oil major Repsol, has held talks with Argentina's government in an attempt to come to a compensation deal after the expropriation of Repsol's YPF unit last year, a source with knowledge of the matter told Reuters on Tuesday.

The source said the talks were very preliminary and he did not foresee a deal in the short- to medium-term. He said the talks were around the Argentine government compensating Repsol for the expropriation in exchange for investment in an oil project there.

A spokesman for Repsol said neither the company nor its board was in talks with the Argentine government.

Caixabank, which owns 12.5 percent of Repsol, said it had no comment on the matter. Caixabank Chairman Isidro Faine is on Repsol's board. (Reporting By Carlos Ruano; writing by Sarah Morris; editing by Fiona Ortiz)

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