Parmalat and Nestlé ¨ at risk in Venezuela

Venezuelan President Hugo Chavez threatens to nationalize the milk after the expropriation of the 'industry of oil. In the televised speech, Prime Minister of Caracas denununcia criticality of state enterprises and cooperatives to raise market milk as raw material and threatened to occupy and dispossess ¨ industrial installations of Nestle and Parmalat operating on the territory where is determined that the two companies are responsible for preventing state-owned companies and cooperatives. In his speech, the president claimed that "everything is seized by Parmalat and Nestlé ¨" and adds, "if, for example, we note that ¨ Nestle or Parmalat, through various economic mechanisms or putting pressure on producers, buying up all the product leaving the State farms and cooperatives without the necessary milk, we will be forced to intervene and expropriate the factories. " After the statements and threats by the Venezuelan president the Parmalat shares suffered a decline of 2.1%. Chavez also threatened the U.S. to cut off supplies of oil compared to the outcome of the battle won by Exxon Mobil on compensation worth $ 12 billion as a result of the nationalization of the 'oil industry and which should be in the form of freezing of assets in Venezuela, "if you freeze it and we hit, we will strike you, you know?" unlike what happened up to now "do not send pià ¹ oil to the United States. Take note Mr. Bush, Mr. Danger, "says Hugo Sanchez.

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