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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
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(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)

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