Minister: UTE, Ancap to Remain in State Hands

Uruguay's state oil company Ancap and state power company UTE will remain in state hands, industry minister Jorge Lepra in a statement posted on the country's presidential website.

Lepra's comments contradict speculation the two companies would be privatized.

The minister said he does not rule out changes to the companies in the future but no plans are being studied to change their ownership structure.

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