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First...Argentina unexpectedly took over YPF...a $11 billion Repsol subsidiary...resulting in outrage from Madrid and the EU...and an ongoing ugly dispute over its value.
Now...President Kirchner is punishing Moviestar...Spain's Telefonica unit there...with a $43 million usd fine...for several hours of mobile phone and date outages...on 2 April.
Moviestar has 18 million Argentine clients...and controls 40% of the market.
Planning Minister Julio De Vido said: "Cell phone service quality has declined in recent months. We need to have full service, not service that gets worse when you walk a few meters one way or another."
The minister wants more Moviestar investment in land lines...and warned other phone providers that the huge fine was a warning shot for them.
