Spain has decided to block an investment by a Hungarian consortium, a train manufacturer, worth 600 million euros citing reasons of national security. Everything comes in the context of Viktor Orban’s politics, who maintains good relations with Russia and China, according to the Financial Times as reported by Ziarul Financiar.
Ganz-Mavag has already announced that it will challenge in court the decision not to allow the acquisition of Talgo, another train manufacturer, based on the fact that it „affects public order and national security.” The Hungarian manufacturer is 45% owned by Corvinus, a financial institution of the Hungarian state.
The Spanish Ministry of Economy refused to comment on the subject, explaining that the analysis that led to the decision is classified. They have stated that the decision complies with national and European laws.
Viktor Orban’s ties to Russia create fear in Europe
Both the Spanish and Hungarian media have linked the veto to potential connections between Viktor Orban and Russia and the security risk to Spanish infrastructure.
Óscar Puente, the Spanish Minister of Transport, has stated that the government will do „everything possible” to block the acquisition. Talgo is considered a strategic company as it has access to information about the railway network.
