Basque steel maker Sidenor is in talks with Talgo about buying some or all of the Spanish train maker’s shares, Talgo said on Monday.
Last week, Sidenor sent Talgo a letter saying it was considering a tender offer for part or all of Talgo’s equity, driving the stock up more than six per cent.
The move comes two months after Hungarian consortium Ganz-Mavag withdrew a tender offer for Talgo following the Spanish government’s opposition to the deal.
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(Reporting by Matteo Allievi; Editing by David Latona and Mark Potter)
