Magyar Vagon: Economy prepares the veto to Orban's assault on Talgo with shareholders in favor of the operation | EUROtoday

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with the minister Carlos Body in Latin America and the Transport official busiest within the Civil Guard's investigation into the corruption plot inside his division, the Hungarian Government yesterday took benefit of the settlement to approve the Amnesty Law on the independence motion to current to the CNMV its curiosity in buying 100% of Talgo.

The prepare producer, Renfe's foremost provider, has been thought of strategic by the Government of Pedro Sánchez, that may now activate all its levers to forestall the operation even whether it is welcomed by the shareholders.

Ganz Mavag Europe, the corporate that has notified its curiosity in buying Talgo, is 55% built-in by Ganz Mavag Holding, owned by Hungarian Wagon and 45% for Corvinus, 100% owned by the Hungarian State and managed by the Ministry of Economy of the Government led by Viktor Orban,.

Thus, though nearly all of the client is non-public capital, it’s the Hungarian State that funds the operation. Now, the Ministry of Economy led by Carlos Body should anticipate the corporate to request authorization from the Government in an extra course of to tell the CNMV. From there, it’s time to examine and argue why you reject the acquisition of an organization that has the strategic label hooked up to it, because it does. Telefónica earlier than the doorway of the STC well being middle.

Unlike STC, Ganz Mavag assures that he has not purchased a single Talgo share since his curiosity within the prepare producer was revealed in November. But the truth that he formally presents his letters to the CNMV is already a problem. At the second, Corpus has the Foreign Investment Board (JINVEX), an inner inter-ministerial physique with which to investigate buyers keen on Talgo to find out a veto that has already been superior. Scar Bridge. Jinvex will analyze whether or not, as Puente himself identified final Wednesday, there are “Russian investors” behind the acquisition. Among the members of the physique is the CNI.

If Economa vetoes the acquisition, the prepare producer's shareholders will probably be disadvantaged of a possibility to liquidate an funding that, they estimate, has a 41% premium over the worth paid for Talgo earlier than November.