Sidenor in talks to buy some or all of Spanish train maker Talgo

(Reuters) – 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 6%.

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.

(Reporting by Matteo Allievi; Editing by David Latona and Mark Potter)