Italian prosecutors probe Edenred unit over 2019 public tender [Reuters]
EDENRED SA UNSP/ADR (EDNMY)
NASDAQ:AMEX Investor Relations:
edenred.com/en/investors-shareholders
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Source: Reuters
being investigated by the public prosecutor's office in Rome over an allegedly fraudulent public tender launched in 2019. "Edenred is at the disposal of the Italian judicial authorities to provide all necessary explanations," the company said in a statement. In a separate statement, without naming Edenred, the public prosecutor's office at the Court of Rome said a judge had issued a decree to seize assets worth about 20 million euros ($22 million) in "a leading company operating in the sector of services for public and private companies". At 1403 GMT, Edenred shares were down 12.2%, heading for their biggest daily fall in nearly four years. "The share price reaction today seems to be either pricing in 1) A very large fine 2) Systemic issues with tendering across the Edenred business," analyst Michael Field from Morningstar told Reuters in an e-mail. The prosecutor's office in Italy added it had placed under investigation four executives who took turns in charge of the compan
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