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Mondelez stock drops over 10% within a month post-fine
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Mondelez International•Oreo•Toblerone•Cadbury•Milka•EU•European Union•Mondelez•European Commission•Single Market
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Mondelez, Maker of Oreo, Toblerone, and Cadbury, Fined €337.5 Million by EU for Trade Restrictions
May 23, 2024, 11:56 AM
Mondelez International, the maker of Oreo, Toblerone, Cadbury, and Milka, has been fined €337.5 million ($366 million) by EU antitrust regulators for impeding cross-border trade within the European Union. The fine, announced on Thursday, addresses the company's practices from 2012 to 2019, which limited the territories in which wholesale customers could resell their products. Additionally, from 2006 to 2020, Mondelez prevented distributors from responding to sales requests in other EU countries. These actions allowed Mondelez to charge higher prices for its products, to the detriment of EU consumers. The European Commission's decision underscores the importance of maintaining competitive markets within the EU's Single Market to benefit consumers by lowering prices and increasing product selection.
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