Analysis; Chavez's first act of nationalization hits close Argentine ally.(Opinion & Editorial)

From: Manila Bulletin | Date: April 12, 2008 | Copyright information

Byline: HELEN POPPER Reuters

BUENOS AIRES -- Venezuela's first nationalization of a company from an allied nation -- an Argentine steelmaker -- will test close ties between President Hugo Chavez and fellow leftist leader Cristina Fernandez.

Argentina's government has stayed silent since Venezuela said on Wednesday that Ternium Sidor would be taken back into state hands. Last week, Chavez's announcement that the cement industry would be taken over saw Mexico make a fierce defense of Cemex, a major Mexican firm.

Fernandez, who took office as Argentine president in ...

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