Kering: confirms the opening of an investigation
(CercleFinance.com) - The group has said that the National Financial Prosecutor's Office has confirmed that it opened a preliminary investigation in February 2019.
This information from Kering follows a press article posted online on 15 December 2020 implicating the company.
"Kering had not previously been informed of this inquiry. The inquiry appears to be linked to the potential consequences for Kering French companies resulting from legal proceedings initiated in November 2017 involving LGI, the Group's Swiss subsidiary. The proceedings resulted in a settlement between Gucci and the Italian tax authorities in May 2019," it said.
"Kering refutes in the strongest possible terms the allegations contained in the press article and forwarded by other media," management added.
The Group says that it intends to fully cooperate with the inquiry, in complete transparency and serenity.
"Kering will continue to communicate diligently and openly about tax litigation".
The market doesn't seem to be scared by any allegations of wrongdoings or whatever - about an hour into trading, the share is up over 1.5% in Paris.
Copyright (c) 2020 CercleFinance.com. All rights reserved.