Morales nationalized the Bolivian energy sector

Bolivian President Evo Morales ordered the nationalization of four private power company, reports BBC News. These included two with foreign capital – Corani and Guaracachi.
Corani half-owned by one of the subsidiaries of the French GDF Suez, a major partner is British Guaracachi Rurelec.

According to Reuters, the Bolivian Government had tried to persuade investors to sell their shares in these companies, but agree with them failed.

After the nationalization of the four companies, the Government of Bolivia has to control 80 percent of all generating assets in the country. Prior to nationalization in the hands of the officials were about 30 percent of the market.

All four companies were formed after the privatization of the National Electricity Company in 1990.

In Bolivia, gradually moving the nationalization of all major industries. For example, in 2006, Evo Morales nationalized the gas and oil sector, and in 2008 – the national telecommunications company Entel.

Reuters notes that Morales likes to nationalize the company is in early May. A year ago the state moved aviazapravschik Air BP, and two years ago – Entel.