FACTBOX: Investments caught in Venezuela-Spain shut up spat

Wed Nov 14, 2007 3:20pm EST
 
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(Reuters) - Venezuelan President Hugo Chavez warned on Wednesday Spanish investments could suffer in a diplomatic dispute with the former colonial power after King Juan Carlos told him to "shut up" at a weekend summit.

Spain is one of Venezuela's largest foreign investors, with $2.4 billion invested by Spanish companies in the South American nation since Chavez took office in 1999.

The following are some of the main Spanish companies:

* Grupo Santander -- Banking

Owns Banco de Venezuela, one of the largest banks in the nation's financial system with $700 million invested in Venezuela operations.

* Banco Bilbao Vizcaya Argentaria -- Banking

Owns Banco Provincial, another of the South American nation's principal banks with $670 million invested in Venezuela.

* Telefonica -- Telecommunications

Telefonica subsidiary Movistar holds the largest market share of Venezuela's booming cellular phone sector.

* Repsol YPF -- Oil and Gas

A partner in oil joint ventures with Venezuela's state oil company and operator of natural gas exploration and production projects. Repsol is also exploring for oil in the vast Orinoco Belt heavy oil reserve.

Insurance company Mapfre and Publishing house Prisa also have important investments in Venezuela.

(Reporting by Brian Ellsworth, editing by Leslie Gevirtz)

 

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