Talgo’s Financial Crisis Deepens: Heavy Losses, Takeover Bids, and Urgent Debt Restructuring

Talgo is at a crossroads. A EUR 107.9 million loss, a EUR 116 million penalty from Renfe, a fierce bidding war, and a debt that's to be paid over the next three years have shaken the Spanish train maker. With Basque steel giant Sidenor poised to take control and rival investors circling, the company’s fate hangs in the balance. Will…