Several European sources reported that the prevailing economic crisis in Argentina will have negative impacts on Spanish companies such as Rispol and Telefonica in the Middle East, reported Al-Hayat. These groups are expected to incur heavy losses because of the crisis in Argentina, which will negatively affect their international expansion capabilities in Morocco. The Telefonica Company, which holds the majority of the stakes in the Morrocan Meditel Network Company has recently decided to freeze all of its investment projects until Argentina’s economic situation is more stable. Unlike executives at Meditel, economic specialists believe that Telefonica will have to decrease its investment projects including the ones in Morocco. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
