A low-cost high-speed train ‘Avlo’ (Talgo 350) train is seen at the Atocha train station, in Madrid, Spain, October 14, 2024. REUTERS/Jon Nazca/File Photo Purchase Licensing Rights, opens new tab
Feb 6 (Reuters) – Spanish stock market regulator CNMV suspended trading in shares of train maker Talgo
on Thursday after several media reports that the Basque steel company Sidenor is preparing a takeover.
Sidenor opened talks about the possible acquisition of a stake in Talgo in October.
Newspaper Cinco Dias said Sidenor was planning to offer up to 4.80 euros ($4.98) per share for a 29.9% stake in Talgo that is currently held by investment fund Trilantic.
Sidenor declined to comment. Talgo and Trilantic did not immediately respond to requests for comment.
The Spanish government in August blocked a 5 euro per share offer made by Hungarian consortium Ganz-Mavag for Talgo.
($1 = 0.9644 euros)
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Reporting by Marta Serafinko in Gdansk, editing by Inti Landauro, Kirsten Donovan
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