Hungary’s Ganz-Mavag pulls Talgo bid after Spain blocks deal
Hungarian consortium Ganz-Mavag has withdrawn its tender offer to take over Spanish train manufacturer Talgo. That’s after Spain’s government decided to block the bid over “security concerns”, allegedly because the buyers are partly owned by the Hungarian state, which has close ties to Russia. The latest development in the ever-fraught Talgo saga, it follows news that an EU regulator will investigate a rival bidder over allegations of share price manipulation.
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