Talgo seen as a strategic company for Spain (Il Sole 24 Ore Radiocor) - Madrid, 27 Aug - The Spanish government said that it has blocked a public offer by the Hungarian consortium Ganz Mavag Europe for Talgo, a Spanish producer of rolling stock.

The Spanish cabinet decided not to authorise the bid to protect "Spain's strategic interests and national security," according to a statement released by the economy ministry.

"For the government, Talgo is a strategic company in a key sector for Spain's economic security, territorial cohesion and industrial development," it added.

The government did not elaborate on the reasons of its decision, but Ganz Mavag Europe is considered close to the Hungarian prime minister Viktor Orban, who in turn is considered close to the Russian leader Vladimir Putin.

Ganz Mavag Europe is consortium grouping Magyar Vagon and the Hungarian public fund Corvinus Zrt. Talgo said that the consortium was interested in buying all its capital in offer valuing it 619 million euros.

Talgo added that price of 5 euros per share offer by Ganz Mavag Europe was appealing for its shareholders.

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(RADIOCOR) 27-08-24 19:02:08 (0489) 5 NNNN