The leftist government of Spain denied a Hungarian consortium’s takeover bid for the Spanish train manufacturer Talgo on Tuesday, citing threats to public order and national security.
According to the ministry of economy, the cabinet resolved “to not authorise direct foreign investment” in Talgo by Ganz Mavag Europe, a company based in Hungary, “for reasons linked to protecting Spain’s national security and strategic interests.”
According to the statement, Talgo is a strategic enterprise in an industry important to Spain’s industrial development, territorial cohesion, and economic security.
Although it did not explicitly state this in its statement, the government has made it plain that it is worried about the close ties that the Hungarian businesses have with Prime Minister Viktor Orban, who is seen as Putin’s ally.
Just two days before Russian missiles blowing up a children’s hospital in Kyiv, on July 5, Orban—whose nation currently holds the rotating presidency of the European Union—met with Putin in Moscow, setting off a chain reaction of intense resentment throughout the 27-nation bloc.
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