Hungarian company Ganz-Mavag has decided to withdraw its bid to acquire the Spanish train manufacturer Talgo, this is reported by the railway transport news portal Railway Supply.

Ganz-Mavag Withdraws Bid for Talgo After Spain Blocks It
Photo: Shutterstock

This decision came as a result of the Spanish government blocking the bid, citing “security concerns” as the primary reason.

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Spanish authorities expressed concern that the buyers are partially controlled by the Hungarian state, which has close ties with Russia.

The latest twist in the ongoing Talgo saga comes amid news of an investigation initiated by the European Union.

EU regulators have started an inquiry into Ganz-Mavag’s potential competitor due to suspicions of stock manipulation.

This case highlights the complex geopolitical and economic factors influencing international deals in the railway industry.

Photo: Shutterstock

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