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Edenred; Reports of Italian Police Investigation

CONSUMER CYCLICALS

Edenred (EDEN FP) headlines, looks like a police investigation into Italian business. Cash curve 2-4bp wider (equity -10%) already, unclear precisely how much of group is Italy but Europe ex-France is 44% of group revenues and slightly more of EBITDA:


*EDENRED ITALY MANAGERS INVESTIGATED BY POLICE: ANSA

*EDENRED: INVESTIGATION OPENED IN ITALY RELATING TO 2019 TENDER

*EDENRED SAYS CAN'T COMMENT DURING PROBE, 'CONFIDENT' OF OUTCOME

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