Vanoli: “Some companies hold a myopic defense of their interests”

Argentina, April 24, 2011

Alejandro Vanoli, head of Techint, said that the companies do “a myopic defense of their business interests”. He also denied the existence of an advance of the state in the private sector.

Vanoli said the Securities and Exchange Commission declared “irregular and ineffective” the meeting held on Friday 15 in Siderar, due to “ignorance of the decree and the irregular form of voting”.

He also said that the resistance of companies to the NUD, is because they are “bothered that the state has some participation, perhaps, because it goes against some aspects of neoliberalism, a ideology that prevailed in Argentina for 30 years until the crisis of 2001 and when the paradigm shift in 2003″.

He added “there is also a short-sighted defense of their interests” and clarified that “in no way it implies a stop of the progress of the companies but it implies doing what any minority shareholder wanted to do, which is to have information and interference with the function and the effort made every day in the company”.

In businessman there are different positions and different views on the matter. Many of them voluntarily accepted the State to exercise political rights of their actions because they see it as an opportunity to have the State as a partner, which means significant benefits for many of these companies.

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