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EU to fine Mondelez for blocking cross-border sales, FT reports

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LA Post: EU to fine Mondelez for blocking cross-border sales, FT reports
April 16, 2024
Reuters

(Reuters) - The European Union is set to fine Oreo maker Mondelez International for blocking cross-border sales, the Financial Times reported on Tuesday, citing people familiar with the matter.

The fine could be worth millions of euros and come as early as next month, the report said.

The European Commission will also order Mondelez to stop blocking the sale of its products between EU member states because of the "potential harm to consumers at a time of high inflation", FT reported, citing three people with knowledge of the decision.

The EU declined to comment on the matter, while Mondelez International did not immediately respond to Reuters requests for comment.

EU antitrust authorities began investigating Mondelez International in early 2021 over concerns it may have blocked cross-border sales of its products in the European Union in breach of competition rules.

The company said in a regulatory filing in January that it expects a liability of about 340 million euros ($361.22 million) in connection with the matter.

($1 = 0.9413 euros)

(Reporting by Juveria Tabassum, additional reporting by Anuja Bharat Mistry; Editing by Devika Syamnath)

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