Oreo maker Mondelez has set aside 300 million euros ($326 million) to resolve an EU antitrust investigation into whether it blocked cross-border sales of its products in the European Union in breach of competition rules, the company has said in a regulatory filing. The European Commission opened a probe in January 2021 focusing on the parallel trade of Mondelez's chocolate, biscuits and coffee between EU countries where the company is a key producer in a market worth billions of euros. Mondelez, which also makes Cadbury and Toblerone chocolates, said it has been cooperating with the investigation and is currently in talks with the EU competition enforcer in bid to reach a negotiated, proportionate resolution.
The Euro has initially rallied during the trading week but gave back all of the gains to show signs of exhaustion.
The Euro has fallen rather hard during the trading session on Friday, after the United States reported 517,000 jobs added last month.