Spain’s leftist government on Tuesday blocked a takeover offer from a Hungarian consortium for Spanish train manufacturer Talgo, saying it posed risks for the country’s national security and public order.
The economy ministry said the cabinet decided “to not authorise direct foreign investment” in Talgo by Hungary’s Ganz Mavag Europe “for reasons linked to protecting the strategic interests and national security of Spain”.
“Talgo is a strategic enterprise in a sector key to Spain’s economic security, territorial cohesion and industrial development,” the statement said.
The government did not say so specifically in its statement, but it has made clear it is concerned about close links between the Hungarian companies and the country’s Prime Minister Viktor Orban, who is considered an ally of Russian President Vladimir Putin.
So much for the common market and the “rules based order”.
This is beyond silly
Good move. We shouldn’t be handing over nationally strategic important companies to parties that pose risks because of who they are allied to.
As they should.
F U Orban!
As they should.
Talgo is strategic for Spain because having UIC and Iberian gauge we need a manufacturer to keep producing rolling stock to work in both networks.
8 comments
Spain’s leftist government on Tuesday blocked a takeover offer from a Hungarian consortium for Spanish train manufacturer Talgo, saying it posed risks for the country’s national security and public order.
The economy ministry said the cabinet decided “to not authorise direct foreign investment” in Talgo by Hungary’s Ganz Mavag Europe “for reasons linked to protecting the strategic interests and national security of Spain”.
“Talgo is a strategic enterprise in a sector key to Spain’s economic security, territorial cohesion and industrial development,” the statement said.
The government did not say so specifically in its statement, but it has made clear it is concerned about close links between the Hungarian companies and the country’s Prime Minister Viktor Orban, who is considered an ally of Russian President Vladimir Putin.
So much for the common market and the “rules based order”.
This is beyond silly
Good move. We shouldn’t be handing over nationally strategic important companies to parties that pose risks because of who they are allied to.
As they should.
F U Orban!
As they should.
Talgo is strategic for Spain because having UIC and Iberian gauge we need a manufacturer to keep producing rolling stock to work in both networks.