The Basque Nationalist Party (PNV) has criticized the Spanish government for obstructing the entry of a Basque-led consortium, headed by Sidenor and Jainaga, into the railway manufacturer Talgo. The consortium aims to acquire a 29.7% stake in Talgo, but the government's withdrawal of support from the state-owned industrial holding company SEPI has put the transaction at risk. SEPI has frozen its participative loan to Talgo to avoid conflicts with competitors CAF and Alstom, pending Talgo's designation as a strategic or financially troubled company. The PNV has also called for the removal of penalties imposed by Renfe that could jeopardize Talgo's rescue plan. The consortium has secured €75 million in financing and expects SEPI to contribute an additional €75 million. Meanwhile, in Portugal, the government has announced plans to privatize 49.9% of the national airline TAP, which has attracted interest from major European aviation groups. Carlos Oliveira, former Secretary of State for Entrepreneurship, has been appointed chairman of TAP's board. TAP SA has filed for insolvency of its former parent company TAP SGPS, which owes €178 million to Brazilian airline Azul. Portuguese Infrastructure Minister Miguel Pinto Luz emphasized that TAP must grow or face collapse and aims to complete the privatization within a year. However, political parties PS and Chega have threatened to oppose the privatization process.