Coca-Cola Icecek Stock Slides on Additional Customs Payments

Coca-Cola Icecek's stock is falling 3.9% to ₺80.00 today after the company revealed it will face additional customs payments and a fine totaling 2.8 billion lira ($58.2 million).

The Turkish bottling and distribution company said it had been notified of an assessment of 705.8 million lira, along with an administrative fine of 2.1 billion lira.

Brokerage Is Yatirim described the news as 'marginally negative' for the stock, noting the total amount payable is about 1% of the company's market capitalization.