Italy Probes CK Hutchison Unit on Tax in €3.4 Billion Asset Sale
- Wind Tre allegedly failed to pay tax in tower sale to Cellnex
- Italian authorities are ramping up scrutiny of global firms
Wind Tre’s Italian mobile tower sale was part of a broader deal between CK Hutchison and Cellnex.
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CK Hutchison Holdings Ltd.’s Italian telecommunications unit is the target of a probe alleging that it evaded taxes during a €3.4 billion ($3.6 billion) asset sale to Cellnex Telecom SA.
The investigation by Italy’s finance police hinges on whether Wind Tre SpA, the country’s third-biggest phone company, failed to pay registration taxes while selling several thousand mobile phone masts to Barcelona-based Cellnex, according to a document seen by Bloomberg.