November 15, 2012 / 10:16 AM / 5 years ago

Spain hopes for Repsol solution with Argentina soon

MADRID, Nov 15 (Reuters) - Spain hopes to reach a solution with Argentina soon over its seizure of oil company YPF from Spanish company Repsol, Foreign Minister Jose Maria Garcia Margallo said on Thursday.

“There are conversations between the Argentinean and Spanish governments about the matter every single day, with discretion, which is how you do things in a democracy ... and I hope we will have a solution relatively soon,” Margallo said on Spanish television.

Argentina seized a controlling stake in YPF from Repsol in April, renationalising a company that was state-run before the 1990s.

Leaders from Portugal, Spain and Latin American countries were scheduled to meet in Cadiz, southern Spain, on Friday and Saturday for the Ibero-American Summit. Argentine President Cristina Fernandez will not attend, sending her vice president in her place. (Reporting by Blanca Rodriguez; Writing by Clare Kane; Editing by Dan Lalor)

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