BRAZIL: Nestlé gets more time in Garoto case
Nestlé has been given a reprieve in its bid to keep hold of Brazilian confectionery firm Garoto after Brazil's antitrust regulator delayed a decision on Nestlé's appeal against a ruling that requires the company to sell the brand.
Competition watchdog Cade delayed its decision after one of its members asked for more time to study the case, reported Reuters.
Cade ruled earlier this year that Nestlé had to sell Garoto, which it bought two years ago, because of competition concerns.
In a bid to keep hold of Garoto, Nestlé has appealed against the decision and offered to sell other brands to decrease its market share.
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