The Defense sector is critical and not only for Europe and its strategic autonomy. It is a multidimensional problem aggravated by the return of Donald Trump to power and his idea that ‘defense’ is for whoever pays for it. The plan is to reach 20% of a joint investment worth one billion euros, within seven years. Furthermore, cooperation is essential under the premise that the Old Continent has never handled scenarios such as aggression against a member country and hence there is no effective joint purchase of defensive material planned nor is there an articulated strategy for coordinated mobilization. which would advance the idea of a Europe that is more real than virtual. At the moment, the hawks in Brussels are already considering creating Eurobonds to finance Defense spending and thus please Trump, and increasing military spending so that countries like Spain, Italy and Belgium that are currently below the NATO objective of 2 % of GDP increase their Defense allocations. By managing to raise it to that 2% in those three countries, there would be an additional 60 billion euros for the European Defense budget. Because the declared intention to invest 1.5 billion in European Defense was not useful for Trump the candidate and much less useful for Trump the president. For this, sector giants of global stature are needed. And precisely for this reason, the conversion of the Spanish company Indra towards that business model is not a bad idea. But it cannot be done overnight, because today and despite whoever cares, the bulk of the business is residing in its consulting and digital transformation subsidiary, Minsait, and they will sell it hard, as has been studied. , it would be like selling the car to get gas. Now that, every time crazy ideas of integrating Minsait with other worse performing ‘partners’ are being abandoned to cajole with the resulting one, it seems that the path points to partial divestitures, which allows Indra to continue entering and digesting the resizing. Thus until we reach the mother of the lamb, its electoral processes division. The president of Indra, Marc Murtra, already seems to have given up – or has been made to give up – on his old ambition of jumping to a larger conglomerate, and is limited to managing a tough stage in which shareholders wait for dividends like water in May, especially the extraordinary ones, and with strategic investments in the freezer, such as the purchase of Hispasat. All because the interests of both stakeholders are not only not the same but can lead to opposites. Ask Amber Capital and the Escribanos! For now, the Notaries have taken the lead from Joseph Oughourlian. They warned from minute one: once inside, they would continue to expand their participation. They entered with 3.4% in May 2023 and last Thursday they announced that they were increasing their share capital to 14.3%, 6.3 percentage points more compared to the 8% they had until that day. And until today they have one advisor –Javier, CEO of Escribano–, and with the new participation they will ask for another representative –for example, for the other brother, Ángel–, and we will see if they are satisfied with sitting him on the board or aim higher. By asking… The truth is that they have established themselves as the second largest shareholder of the company behind the State, which owns 27.99% through the State Society of Industrial Participations (SEPI), and ahead of SAPA, which maintains 7.94% of the shares and Amber Capital, with 7.24%. Standard Related News Si Escribano, after increasing its stake to 14.3% in Indra, will ask for a second director María Jesús Pérez The operation, which is estimated at around 189 million euros at market prices, will not be the last since the The Escribano brothers intend to continue increasing their position. A shareholding structure and a state strategy that reminds many of the situation at Telefónica, where SEPI, Criteria Caixa and STC have around 10% each. which, with a director also a beard, and with some more than another wanting to continue increasing both in capital and representation… Therefore, in both Indra and Telefónica, the State within, with representation and two more shareholders of reference. And… stupid last one! From there, the Government clearly positioned itself in two key strategic sectors. In short, military and defense industrial preparation is currently vital for companies and for a Europe where the Italian Government of Georgia Meloni weighs more than the president of the European Commission, Ursula Von der Leyen, in relations with Trump. . And this is also where the Government of Spain believes it can place Indra, taking advantage of the geostrategic situation of our country for the United States and for Europe, meeting the interests of both parties and, above all, allowing the expectations of the shareholders of Indra is overwhelmed and does not heat up governance. Standard Related News If Foreign Affairs trusts in redirecting the relationship with Trump thanks to the “orthodox” profile of Marco Rubio Juan Fernández-Miranda The Government positively values his knowledge of the language and the Hispanic context. We Spaniards have a difficult time because Trump is moved by empathy, and for Spain today, he doesn’t have a clue. You are either with him, or against him. It is its philosophy, and it has all European countries identified on one side or the other. Among those who tune in, without a doubt, Meloni’s Italy, which, for the moment, is ready to receive capital from North American funds that want to invest in its country whatever the sector, with a predilection for energy. And there Spain loses. It has us as a ‘warning’ country. We are going to have to demonstrate a lot to convince the re-elected North American president that we are allies, in Defense and in everything else. Defense is no longer just Defense, but it is Space and private investment is as important as public investment to design a European air defense shield, the seed of a single market for an industry that, for now, more than in space is in the clouds
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