EU Fines Mondelez International for Cross-Border Trade Restrictions
By Andrea Figueras
The European Union said it has fined Mondelez International for hindering the cross-border trade of chocolate, biscuits and coffee products between member states, thus breaking EU competition rules.
The European Commission, the EU's executive arm, said Thursday that the fine amounts to 337.5 million euros ($365.3 million).
The investigation found that the Chicago-based snack foods company took part in anti-competitive agreements to restrict cross-border trade of a number of products. It also abused its dominant position in certain national markets for the sale of chocolate tablets, the Commission said.
The Commission granted the company a 15% reduction of the fine based on its cooperation and acknowledgement of responsibility.
Write to Andrea Figueras at andrea.figueras@wsj.com
(END) Dow Jones Newswires
May 23, 2024 05:27 ET (09:27 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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