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Report: Grupo Indalo accuses Argentine government of trying to force it out of business

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Report: Grupo Indalo accuses Argentine government of trying to force it out of business

Argentine business conglomerate Grupo Indalo has accused thegovernment of Argentine President Mauricio Macri of harassing the company throughtax-evasion charges as a tactic to force the group to sell off its assets, mainlyits media business, El Economista reportedMarch 30.

According to previous reports, the government plans to seizethe assets of businessman Cristóbal López, who owns Indalo, to recoup 8 billionArgentine pesos that are allegedly owedto tax authority AFIP.

Grupo Indalo, which owns multiple television, radio and printmedia outlets, is Banco Finansur SA'sparent company.

As of March 30, US$1 wasequivalent to 14.64 Argentine pesos.