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Chavez Threatens To Expropriate Steel Maker


CARACAS, Venezuela — President Hugo Chávez is threatening to expropriate Venezuela’s largest steel maker, Sidor, because he says shareholders are demanding excessive compensation for the company’s nationalization.

Mr. Chávez dismissed a request by Sidor’s parent company, Ternium SA, of Luxembourg, for $4 billion in exchange for a 60 percent stake in the steel maker.

He ordered Sidor nationalized this month, siding with workers who fought for improved salaries and benefits.

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