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Fri, Jul 27, 2001 - Page 19 News List

New taxes threaten Argentine investment

BLOOMBERG , BUENOS AIRES

Edesur SA, a power distributor, is worried the government tax increase will curb profits.

"We've not worked out the cost yet, but we do know we can't pass it on to our customers," said Ignacio Uranga, finance director at Edesur, which employs 3,379 workers and had revenue of US$889 million last year. "It will definitely mean a reduction in profits for us."

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