Indra Chairman Shelves Deal, Seeks to End Government Fight
Angel Escribano, chairman of Indra Sistemas SA, at the company's offices in Alcobendas, Spain.
Photographer: Michael Robinson Chavez/BloombergÁngel Escribano ended takeover talks between Indra Sistemas SA, where he is chairman, and EM&E, the firm he owns with his brother, after the government said the deal presented a conflict of interest.
In a letter to Indra’s board Thursday, EM&E said that the circumstances that would enable a potential transaction with Indra “do not currently exist, and therefore” EM&E “is withdrawing from the transaction.”