The three largest shareholders of Spain's Repsol SA (REPYY, REP.MC) are pressing the oil company's chairman, Antonio Brufau, to resume negotiations with Argentina's YPF SA (YPF, YPFD.BA) after the South American government seized a controlling stake in YPF from Repsol last year, reports Expansion on its website Thursday.

La Caixa, Sacyr-Vallehermoso SA (SYV.MC) and Petroleos Mexicanos, or Pemex, which own 12.23%, 9.52% and 9.37% of Repsol, respectively, want to avoid prolonging a judicial battle already in place for over a year, the newspaper adds.

Pemex, which is eyeing growth opportunities in Argentina, has suggested that if Repsol's top management is not on the same page as the Mexican firm, it would be willing to leave the Spanish oil company.

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