April 7, 2014 / 11:30 PM / in 4 years

Mexico's Inbursa says reduces its stake in Argentina's YPF

BUENOS AIRES (Reuters) - Mexico’s Inbursa, owned by businessman Carlos Slim, told Argentine stock market regulators on Monday that it has cut its stake in Argentina’s state-controlled energy company YPF (YPFD.BA) to 4.8 percent.

Inbursa told Argentina’s National Securities Commission in a letter that it sold $26 million in YPF stock on the New York Stock Exchange.

    The sale of shares comes as Argentina tries to attract investment to its vast Patagonian shale oil and gas formation called Vaca Muerta, or Dead Cow.

    Argentina took control of 51 percent of YPF from Spain’s Repsol (REP.MC) in 2012.

    Reporting by Alejandro Lifschitz

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