Bolivian President Evo Morales has ordered the nationalisation of four private electricity companies.
| Just following in the steps of his mentor ... |
Police moved into the offices of Corani, Valle Hermoso and Guaracachi firms, following Mr Morales' decree.
Corani is half owned by a subsidiary of France's GDF Suez.
| First they lost that cute little canal in Egypt, now they're being kicked out of Bolivia. Perhaps they ought to consider staying domestic. |
Guaracachi's main partner is Britain's Rurelec, while ELFEC and Valle Hermoso are local.
President Morales said that the government now controlled 80% of electricity generation in the country.
Last year, Mr Morales announced the takeover of a subsidiary of British oil company BP, which supplied jet fuel across the Andean nation. He has recently nationalised oil and gas reserves to redistribute wealth to Bolivia's indigenous majority.
The four companies seized on Saturday account for more than half of Bolivia's electricity market. They emerged following the privatisation of the state National Electricity Company in the 1990s.
| Think anyone will make the mistake of buying anything in Bolivia ever again? At least for a generation? No more private investment, Evo, so enjoy developing your country without any help. |
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