Points to 'serious damage' to 'legitimate interests' (Il Sole 24 Ore Radiocor) - Madrid , 30 Aug - The Hungarian consortium Ganz-Mavag Europe said it has withdrawn its bid for the Spanish rail group Talgo, after the Spanish government blocked the deal for national security reasons, according to a statement released by Spanish market regulator CNMV.

Ganz-Mavag cited the "serious damage that the decision of the Spanish Government entails for the legitimate interests of the Bidder" and "the uncertainty that the aforementioned decision poses on the deadlines of the offer and the costs of maintaining its validity" in explaining the reason it is dropping its bid for 100% of Talgo.

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(RADIOCOR) 30-08-24 18:49:35 (0533) 5 NNNN