Spain: The decision was made by the Council of Ministers. The press release from the Ministry of Economy and Finance stresses that approval of the deal would pose “insurmountable risks to national security”.
A Talgo spokesperson has informed Reuters that the Spanish company will wait for information from Ganz-Mavag regarding its plans. The Hungarian consortium’s press service has announced that it will pursue legal action in Spain and in the EU against the Spanish government’s decision. Additionally, the Spanish Association of Minority Shareholders has announced its intention to challenge the country’s regulation authorising the suspension of foreign investments in court.
The process of selling 100% of the shares in the Spanish manufacturer commenced last year. The offer from Ganz-MaVag has been approved by the Spanish National Securities Market Commission. Additionally, Škoda Group has expressed interest in the deal, which was ultimately rejected by Talgo.
