Feb 16 - Nestle has said it will fight a fine of almost EUR 30 million imposed by Greek authorities for alleged market violations, calling them “unfair” and “groundless”.
The world’s largest food company was responding to the Greek Competition watchdog’s decision to levy the penalty because it claimed Nestle had “abused” its leading position in the country’s instant coffee market.
The body has slapped Nestle with a EUR 29.95 million fine, accusing the Swiss company of using its economic muscle to exclude rival companies in deals with distributors, supermarkets and restaurants. The company had failed to publicise the terms of its agreements with these partners, the competition authority also alleged.
However, Nestle has vigorously denied the accusations.
In a statement, Nestle Hellas said: “We deem this decision unfair and reject the charges. We fully respect national and international laws and always act in the best interest of our consumers.
"Nestle Hellas will immediately take legal action to defend its rights and rid itself of these groundless charges.”
Nestle has four factories in Greece, and employs over 1,000 workers.