The President of Hungary, Viktor Orbanmet in the Kremlin Vladimir Putin in September 2018. One of the key themes of this meeting was joint investments in the railway sector, as Putin himself said, with which they planned “supply railway cars to third party markets“.
These synergies were lost with the outbreak of the war in Ukraine, but the CNI believes that this is just a cover-up and that the links are still very much alive between Russian companies such as TMH and Ganz Mavag, the Hungarian company that is considering buying Talgo. This is a report revealed by ‘El País’, but which the government does not want to talk about, explaining that it is classified information.
Of course, based on this classified information, they reaffirm their reasons for veto on the entry of the Hungarian group into TalgoThe Council of Ministers has clearly indicated “insurmountable” reasons This prevented this decision, which the Hungarian consortium will appeal “in all possible cases”.
However, this decision does not solve the future of Talgo, a company that needs a future plan to stay at the forefront. To do this, it needs new investors. The problem is that its majority shareholder, the American fund Trilanticwants to exit the shareholding. If he left without an alternative plan, the stock would fall and leave an uncertain future.
The alternative promoted is the entry of Criteria Caixa with an industrial partner, such as SkodaBut this does not convince the shareholders. In other words, the banned Hungarians had the highest offer. So now the shareholders want to twist the government’s arm through legal means.
