Spain has branded a Hungarian consortium backed by the prime minister Viktor Orbán as a threat to its national security as Pedro Sánchez’s government intervened to block a €600mn bid for a Spanish trainmaker.
Hungary’s Ganz-Mavag consortium vowed to take legal action against Spain for vetoing its takeover bid for Talgo on the grounds that it entails “risks to national security and public order”, a highly unusual step within the EU.
The takeover attempt has become the latest conflict between EU member states and the illiberal Hungarian premier, who has maintained some of the closest relations with Russia of any western leader despite its full-scale invasion of Ukraine.
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