Link Securities| Talgo (TLGO) and the Chinese giant CRRC, the world’s largest train manufacturer, are vying for a €613-million order to build 20 medium-distance electric units for Bulgaria’s railways, the business and finance daily Expansión reports on Tuesday.
It is the largest train order ever placed by the country and is financed by the European Union’s NextGen funds. According to the information provided to the Bulgarian Ministry of Transport, CRRC has submitted an offer 50% cheaper than Talgo’s, with higher capacity trains and a longer warranty period. Talgo’s offer comes amid the alleged interest shown by a Hungarian investor, willing to launch a takeover bid for the entire share capital of the Spanish manufacturer, at five euros per share.
