Moncloa has severed ties with Ángel Escribano, the president of Indra, just a year after supporting his appointment to head the strategic company. The state-owned entity Sociedad Estatal de Participaciones Industriales (Sepi), which represents the government's interests in Indra, has communicated to the National Securities Market Commission (CNMV) that this decision is an ultimatum. The government has indicated that Escribano must either resign from his position at Indra or face governmental rejection of a merger proposal with his family-owned firm, Escribano Mechanical & Engineering S.L. (EME), which had previously garnered government backing.

The situation has escalated as Manuel de la Rocha, the director of the Economic Office of the Presidency of the Government, has taken on the management of this decision, with formal communications to the CNMV being made by Belén Gualda, the president of Sepi. The government argues that the proposed merger to enhance Indra's defense capabilities should not be seen as a means to resolve conflicts of interest, highlighting the complexities and potential ethical issues involved in the relationship between state interests and private enterprises. This ultimatum emphasizes the government's commitment to maintaining integrity and transparency in the management of key strategic companies, especially in sensitive sectors like defense.

The implications of this ultimatum are significant not only for Escribano and his company but also for Indra and its future strategic direction. Should Escribano choose not to resign, the rejection of the merger could pose serious challenges for Indra's growth and development, particularly within the defense sector, where the company seeks to innovate and expand. This power struggle reflects broader issues of corporate governance, state intervention in the economy, and the handling of sensitive conflicts of interest in Spain’s public and private sectors.