Spain blocked the Hungarian takeover of a Madrid-based trainmaker on the grounds that Viktor Orbán’s Russia-friendly government should not acquire technology that could be useful to Ukraine, according to people familiar with the matter.
A senior Spanish government official said Madrid vetoed the €619mn bid for Talgo in part because the company could aid Ukraine’s reconstruction by helping it strengthen its rail links with the EU.
“One of Ukraine’s biggest interests is the rail connection,” the official told the Financial Times, stressing that Talgo could help Ukraine overcome one big impediment: the fact its rail tracks are a different width.
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