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MADRID, March 8 Repsol said on Friday
it was not in negotiations with the Argentine government over
compensation for the country's expropriation of the Spanish oil
major's 51 percent stake in YPF last year.
"Repsol's board of directors denies the existence of any
negotiation or any kind of offer," it said in a statement to
Spain's stock market regulator.
Reuters reported this week that Repsol shareholder Caixabank
had held talks with the government to broker a
Repsol said on Friday it could not rule out unofficial
contact between other parties, but had not been part of any
The firm reiterated that it was willing to work with
Argentina to reach a solution and wanted full compensation for
The company has filed a complaint against Argentina and the
World Bank's arbitration body, the ICSID, began the process in
"Repsol continues to calmly trust in the justice of the
legal channels it has opened," it said in the statement.
The company spent most of 2012 recovering from the loss of
its Argentine unit but beat forecasts for its fourth quarter
profit for a positive close to the year.
Argentina's President Cristina Fernandez said at the time of
the expropriation that Repsol had not invested enough in the
country, letting local production decline.
(Reporting by Clare Kane; editing by Jesus Aguado and Jason