Indra falls on report that Spanish government seeks to oust chairman

Indra Sistemas SA

17/03/2026 09:08

** Shares in defence company Indra IDR.MC fall about 7% after newspaper El Confidencial reported that the Spanish government is seeking to oust company chairman Ángel Escribano

** The paper reported, citing "various" unnamed sources, that the government, which owns a 28% stake Indra through state-owned fund SEPI, aims to put an end to the internal crisis triggered by the group's possible acquisition of Escribano's family firm Escribano Mechanical & Engineering (EM&E)

** Indra could not immediately be reached for a comment

** "Negative news that creates confusion and uncertainty," analysts at Banco Sabadell say

** "Escribano is not only one of Indra's main shareholders but also someone with experience in the defence sector, which is Indra's main growth driver and catalyst," Sabadell adds

** The potential acquisition of EM&E, owned by Ángel Escribano and his brother Javier, has caused concerns over possible conflicts of interest

(Reporting by Javi West Larrañaga)

((javier.west@thomsonreuters.com; +34 918 35 61 12))