FX.co ★ European Commission Fines Mondelez 337.5 Mln Euros For Breach Of Competition Rules

The European Commission announced on Thursday that it has imposed a fine of €337.5 million on Mondelez International, Inc. (MDLZ) for obstructing the cross-border trade of chocolate, biscuits, and coffee products among Member States, violating EU competition regulations.

The Commission determined that Mondelez, a leading manufacturer of chocolate and biscuits with well-known brands such as Côte d'Or, Milka, Oreo, Ritz, Toblerone, and TUC, engaged in twenty-two anticompetitive agreements or concerted practices, contravening Article 101 of the Treaty on the Functioning of the European Union (TFEU). Furthermore, the Commission found that between 2015 and 2019, Mondelez abused its dominant market position, infringing Article 102 of the TFEU.

Mondelez was accused of violating EU competition laws by participating in anticompetitive agreements and practices.