Gains and Losses among the British Investors in the Sale of Railways to Argentina in 1947-1948

Abstract

In 1948 the Argentine Government paid 150 000 000 pounds to buy the railway lines owned by British companies. After 90 years of British presence, the purchase put an end of foreign investments in railways in Argentina. When the companies were wound up, near 100 000 000 pounds in securities, mainly shares, could not be rescued. This paper is concerned with the losses suffered by the shareholders when the price was distributed among them.