Link Securities | The Senate on Monday approved a PNV motion, which recognises the strategic character of Spanish railway manufacturer Talgo (TLGO) for the European railway sector as a whole, according to Expansión newspaper.
The political parties in the Senate supported the veto to the Hungarian Ganz-Mavag because of its links with Russia, and the newspaper indicates that the pressure of the Basque parties opens again the option of a “national champion” with the union of Talgo and CAF. Sources close to the two manufacturers insist that there are no clear synergies between the two groups.
The PNV motion, supported by the PSOE, calls for the intervention of the central and regional administrations to seek industrial and financial partners after the veto, as it warns of the risk to future viability. The text stresses that the development of Talgo is a priority for the European Union (EU) in the coming decades.
