Cadbury-, Oreo-Maker Mondelez Receives 337.5M Euro Fine From EU For Anti-Competitive Practices
Portfolio Pulse from Shivani Kumaresan
Mondelez International Inc (NASDAQ:MDLZ) has been fined 337.5 million euros by the European Union for anti-competitive practices. The fine was reduced by 15% after Mondelez admitted to the violations. The company restricted cross-border trade of its products within the EU, impacting wholesale clients and exclusive distributors. Mondelez shares are trading lower by 1.23% following the news.
May 23, 2024 | 4:29 pm
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Mondelez International Inc (NASDAQ:MDLZ) has been fined 337.5 million euros by the EU for anti-competitive practices. The fine was reduced by 15% after Mondelez admitted to the violations. The company's shares are trading lower by 1.23% following the news.
The significant fine and the nature of the violations are likely to negatively impact investor sentiment in the short term. The immediate drop in share price by 1.23% reflects this sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100