The European Commission has opened an anti-trust investigation into global confectionary giant Mondelez, which is best known for its Cadbury brand of chocolate, over price-fixing concerns.
The EU’s investigation specifically relates to whether Mondelez restricted competition in Europe by restricting cross-border trade of its products within the European single market.
European regulators are understood to be concerned that Mondelez may have engaged in anti-competitive practices by blocking trade between EU member states where the prices of its products are different.
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“Chocolates, biscuits and coffee are products consumed by European citizens daily. We are opening a formal investigation to see whether Mondelez, a key producer of these products, might have restricted free competition in the markets leading to higher prices for consumers,” said Margrethe Vestager, the European Commissioner for Competition.
Mondelez potentially faces fines of up to 10% of its global turnover of €22bn if found guilty by the EU investigation.
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The European Commission has opened an anti-trust investigation into global confectionary giant Mondelez, which is best known for its Cadbury brand of chocolate, over price-fixing concerns.
The EU’s investigation specifically relates to whether Mondelez restricted competition in Europe by restricting cross-border trade of its products within the European single market.
European regulators are understood to be concerned that Mondelez may have engaged in anti-competitive practices by blocking trade between EU member states where the prices of its products are different.
“Chocolates, biscuits and coffee are products consumed by European citizens daily. We are opening a formal investigation to see whether Mondelez, a key producer of these products, might have restricted free competition in the markets leading to higher prices for consumers,” said Margrethe Vestager, the European Commissioner for Competition.
Mondelez potentially faces fines of up to 10% of its global turnover of €22bn if found guilty by the EU investigation.
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