BREAKING NEWS

Argentine Congress OKs state takeover of investigated firm

By REUTERS

AUGUST 23, 2012 03:17

BUENOS AIRES - Argentina's Congress approved on Wednesday the expropriation of a currency-printing company whose ties to the country's vice president are under judicial investigation.

The lower house voted 145-77 in favor of the bill, which President Cristina Fernandez sent to Congress just two weeks ago. Fernandez's allies regained control of Congress last year after a two-year interlude.

The decision to expropriate the printing company, formerly known as Ciccone Calcografica, comes four months after court officials raided an apartment owned by Vice President Amado Boudou to see if he acted improperly to benefit the company.

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