China Fines Mead to Danone Joint $109 Million in Probe
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China fined six dairy companies including Mead Johnson Nutrition Co. and Danone a combined 669 million yuan ($109 million) for price fixing, a record penalty for violating anti-monopoly laws.
The companies tried to fix minimum resale prices of their products, limiting competition in the industry, China’s National Development and Reform Commission said in a statement today.