🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

Mondelez fined $365.7 million by EU for cross-border trade curbs

Published 05/23/2024, 05:09 AM
Updated 05/23/2024, 11:22 AM
© Reuters. FILE PHOTO: Oreo biscuits and a Toblerone Swiss milk chocolate are seen displayed in front of Mondelez International logo in this illustration picture taken July 26, 2021. Picture taken July 26, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
MDLZ
-

(Corrects headline to remove euros)

BRUSSELS (Reuters) - Oreo maker Mondelez (NASDAQ:MDLZ) International was fined 337.5 million euros ($365.72 million) by EU antitrust regulators on Thursday for impeding cross-border trade of chocolate, biscuits and coffee products between EU countries.

The European Commission said Mondelez had abused its dominant position in breach of EU antitrust laws.

© Reuters. FILE PHOTO: Oreo biscuits and a Toblerone Swiss milk chocolate are seen displayed in front of Mondelez International logo in this illustration picture taken July 26, 2021. Picture taken July 26, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

"Mondelez's illegal practices prevented retailers from being able to freely source products in Member States with lower prices and artificially partitioned the internal market," the EU executive which acts as the EU competition enforcer said in a statement.

($1 = 0.9228 euros)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.