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After government intervention, investors continue to punish Indra in the stock market

After the Government forces decision-making within the company, Indra's share prices suffer the effects of the crisis unleashed by its leadership.

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After government intervention, investors continue to punish Indra in the stock market

After the Government forces decision-making within the company, Indra's share prices suffer the effects of the crisis unleashed by its leadership. The Government also allied itself with Joseph Oughourlian, an investor, and Sapa, a Gipuzkoan shareholder.

Yesterday's 2% drop in shares of the technology company that has a significant defense business division, was due to the selling current of investors who have lost faith in the company's future. Indra's shares suffered the first punishment on the stock market last Friday after the Executive's coup. The 14% drop was a result of the shareholders' meeting. Their titles have dropped from 10.5 euros to 8.9 euros since the previous session. This means that their capitalization has fallen by 282 million euros, or 15%.

The market consensus doesn't anticipate a rebound at this time. Analyst at Renta 4 Banco, Ivan San Felix says that "we insist on our belief that a period in uncertainty is opening around Indra" and the evolution of Indra's price." Recent sales are a clear example of this, as Fidelity, one the company's partners announced Monday the sale of 1%.

A minority group has begun to analyze the various judicial options available to the Cremades office in this difficult situation.

It is clear that the consequences of this event are very real. The alliance voted to dismiss four directors. It also voted for Sapa, Sapa, and Oughourlian. One more director was not renewed and two more resigned. They were all independent directors who opposed the Executive of Pedro Sanchez's maneuvers - specifically to give executive powers to Marc Murtra - and have not been silent.

They sent the documents to the company, which the CNMV made public, and denounced the existence of a concerted act by the three shareholders -they control 38% of Indra’s share capital - with an Olympic contempt for good corporate governance standards.

The bottom line of this crisis and of this maneuver is Indra's desire to be a leader in the Spanish defense industry. Pedro Sanchez's government is determined to encourage a merger of companies in order to create large companies in this sector.

Indra has one of its operations reserved by the Government - hence its interest to take control and impose its will - which is the acquisition of a substantial stake in ITP, the Basque company that makes components for aeronautical engines. Rolls, currently the owner of the company wants it to be sold. Rolls already has an agreement in place with Bain, a US fund, who is willing to purchase a majority stake.

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