Oct. 2 - Nestle Italia negotiated a 36-million euro out-of-court settlement with Italian Tax Authorities, it was announced yesterday.
But the global giant, the world's largest food and beverage company, strongly denied any accusation of tax evasion.
'We do not believe our executives have done anything wrong,' said a Nestle spokesman.
As reported by FLEXNEWS on July 25 2007, Nestle Italia may also soon be facing anti-trust action in Italy.