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Germany: Nestle fined for illegal collusion with rivals

By  |  March 27, 2013
Germany: Nestle fined for illegal collusion with rivals

Nestle has been fined about $26 million by the Federal Cartel Office, the authority announced on Wednesday. Nestle, the globe’s largest food conglomerate, was found to have colluded with rivals to exchange market-sensitive information. The authority noted that cooperation from Nestle lessened the fine, and that the punishment is not final. The antitrust watchdog found that representatives of Nestle along with Kraft and other food companies met on a regular basis for several years to exchange information about planned price increases, as well as other updates. Fines were dished out to the other companies in 2011.

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