Reuters: Venezuelan President Hugo Chavez on Sunday threatened to expropriate steelmaker TerniumSidor if the company cannot reach an agreement over its nationalization "in the coming hours."
The announcement comes only a day after Venezuela said it would offer Ternium less than $800 million for its 60 percent stake in the company, less than a quarter of the $4 billion Chavez said the company wants for its holdings.
The aggressive stance could complicate Chavez's effort to take over the nation's largest steelmaker without creating a conflict with the allied government of Argentina, home of the Ternium steel conglomerate that controls Sidor.
"I will not pay $4 billion for that company," Chavez said, during his weekly Sunday broadcast.
"If they do not want to reach an agreement with us, on Tuesday I will sign an expropriation decree and take immediate control of the company."
- HE IS NOT UNLIKE SHARPTON OR OBAMA: A THUG, A CROOK... A SOCIALIST. THEY HAVE NO RESPECT FOR FREE MARKETS OR THE RULE OF LAW.
- OBAMA'S REASONING FOR A CAPITAL GAINS TAX, SHARPTON'S THREATS AFTER A COURT RULED IN A WAY HE DIDN'T LIKE, AND CHAVEZ ALL TYPIFY THE SAME THING. SOCIALIST THUGS.
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