EU Antitrust Investigation Targets P&G and Coca-Cola Bottlers
(Reuters) -Tide detergent maker Procter & Gamble has been identified as the subject of an EU antitrust regulators' investigation initiated last month that had also targeted Coca-Cola bottlers, Bloomberg reported on Thursday citing people familiar with the matter.
The European Commission had conducted inspections at the premises of companies active in the non-alcoholic drinks sector and had also quizzed an unidentified personal care company in March over concerns of possible curbs on the trade of goods across Europe and carving up markets.
Companies risk fines of as much as 10% of their global annual revenues if found guilty of breaching EU antitrust rules against cartels and abuse of market power.
EU officials have sent over a questionnaire to P&G and are collecting evidence from competitors and customers, the Bloomberg report said. No formal allegations have been made against Procter & Gamble.
The European Commission and Procter & Gamble did not immediately respond to Reuters request for comment.
Reuters had identified Coca-Cola bottlers as the target of EU antitrust regulators, citing a person with direct knowledge of the matter.
(Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Tasim Zahid)
