Several years ago, a famous commerciale of Campari $CPR (+2,33 %) ended with the slogan: “Campari, Red Passion!” Today, however, it’s the stock that is in the red.
The Italian tax authorities seized shares worth €1.2 billion. The measure targets the Luxembourg-based holding Lagfin, which controls the company, and is linked to an investigation into alleged tax irregularities concerning the so‑called exit tax.
According to prosecutors, the 2018 cross-border merger may have generated undeclared capital gains of around €5.3 billion, leading to a potential tax shortfall in Italy. The amount requested under the exit tax is equivalent to about 16% of the company’s market capitalization.
A warning for shareholders ti brace yourself. News was off-the-press After the stock market closure.