Spain Weighs Indra Options as Activist Calls for Break-up, Sources Say
This article is for subscribers only.
Spain and the board of Indra Sistemas SA are mulling options for the company after an activist shareholder called for it to be broken up, people familiar with the matter said.
Board members have discussed possibilities for Indra’s future since activist hedge fund Amber Capital LP said Nov. 22 that the state-controlled company should be split in two by separating its defense activities from information technology, said the people, asking not to be named discussing confidential information. Still, the board hasn’t had any formal deliberations on a break-up, they said.