Renta 4| The Minister of Industry and Transport has confirmed that they consider Talgo to be strategic for Spain and are therefore studying in detail the conditions of Magyar Vagon’s takeover bid for the company.
In this sense, they commented that this does not mean that the anti-takeover shield will be activated, but rather that the operation will be approved as long as there is full conviction that strategic control is maintained. In this regard, it should be recalled that Magyar Vagon would have confirmed that Talgo would continue under Spanish ownership, as well as that the headquarters and management would remain in Spain.
Assessment: While the news is expected, it could cool the share price a little as it has clearly stated and defined Talgo as strategic, which could hinder the viability of the takeover bid.
