Business News : Mexico's Slim family takes shares in Argentina YPF

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BUENOS AIRES (Business News) - The family of Mexican billionaire Carlos Slim owns 8.4 percent of Class D shares of YPF (YPFD.BA), Argentina's recently renationalized energy company said in a filing with the U.S. Securities and Exchange Commission on Thursday.

Argentine President Cristina Fernandez seized control of YPF from Repsol (REP.MC) in April, accusing the Spanish oil company of investing too little and making the country increasingly reliant on pricey imports.

Argentina's government said last year that Slim, the world's richest man, would invest $ 1 billion in the South American country by the end of 2012, mainly in the telecommunications sector.

No comments were immediately available from YPF's Buenos Aires headquarters or from Slim in Mexico. The SEC filing said the Slim family's Inmobiliaria Carso and Grupo Financiero Inbursa held the shares.

YPF's stock price hit 10-year lows earlier this week after the company said on June 5 that it would need to invest $ 7 billion a year to boost flagging natural gas and oil output by more than a quarter by 2017.

Chief Executive Officer Miguel Galuccio, a former executive at global oilfield services company Schlumberger (SLB.N), said YPF would be looking for deep-pocketed partners to help find its ambitious plans to reverse the nation's energy deficit.

Carlos Slim's America Movil (AMXL.MX) (AMX.N) is one of the world's biggest cellphone providers, with 225 million wireless customers in countries stretching from the United States to Argentina.

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