FRANKFURT, March 27 Nestle, the
world's biggest food company, has been fined around 20 million
euros ($25.7 million) in Germany for improper sharing of
information sensitive to competition, the country's federal
cartel office said on Wednesday.
The information exchanged involved products such as
confectionary, hot drinks, pet food and frozen pizzas.
"High ranking sales staff from the company met for regular
talks over a period of years and exchanged information on
negotiations with retailers and also, to a certain extent, on
planned price increases," cartel office President Andreas Mundt
said in a statement.
A spokesman for Nestle Germany said the company felt the
accusations of the watchdog were unjustified and that it would
appeal the decision.
The German units of Kraft Foods, Unilever
and Dr Oetker were already fined around 38 million
euros as part of the same investigation in 2011.
Nestle's fine was reduced because it cooperated in the