BUSINESS

Nestle slapped with fine of 30 million euros

Sipping on a coffee may be a favorite pastime among Greeks, providing a profitable market for some, but the beverage was recently also the subject of investigation by the Competition Commission. The commission said yesterday it had fined Nestle Hellas 30 million euros for abusing its dominant market position in instant coffee products. According to the competition watchdog, Nestle Hellas has been obliging supermarkets to limit the competitive products they offer alongside Nestle's instant coffee. Abusive behavior was also evident in matters relating to restaurants and distributors, the commission added. The period during which Nestle Hellas was found to have breached competition rules was between 2002 and 2006. Nestle Hellas is expected to respond to the fine with an announcement today.

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