McDonald’s Corporation (MCD) Opens Up Controversial Location By Vatican City

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McDonald’s Corporation (NYSE:MCD) has a new location near Vatican City.

McDonald's Corporation, MCD, Vatican City

The new McDonald’s Corporation location near Vatican City opened its doors for business for the first time last week. While there were no public protests at its opening, several leaders of the Catholic church and local residents were against the move.

Cardinal Elio Sgreccia was one of the leaders in the Catholic church that spoke out against the location. He said in October that it was a “disgrace” and that the building should have been used to help the needy. He was also critical of the McDonald’s Corporation location’s aesthetics and of the food that it serves to customers.

McDonald’s Corporation’s new location near Vatican City is just a short distance from St. Peter’s Square and can be seen from the location. The building it is in belongs to the Vatican. The church is charging the fast food company roughly $31,375.50 per month to rent the facility, reports The New York Times.

McDonald’s Corporation didn’t announce the new location when it opened. Neither did L’Osservatore Romano, the official newspaper of the Vatican. The location is open from 6:30 a.m. to 11 p.m. seven days a week. It also offers Wi-Fi for customers.

Another cause for controversy over the new McDonald’s Corporation location is residents that share the building. The restaurant is on the bottom floor, but several senior cardinals from the Catholic church live on the floors above the new MCD location, NBC News notes.

MCD stock was down 1% as of Noon Tuesday.

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Article printed from InvestorPlace Media, https://investorplace.com/2017/01/mcdonalds-corporation-vatican-city-mcd/.

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