Unilever, P&G face EU detergent cartel fines -source

BRUSSELS, April 11 (Reuters) – Unilever (ULVR.L: Quote, Profile, Research)(UNc.AS: Quote, Profile, Research) and
Procter & Gamble (PG.N: Quote, Profile, Research) are set to be fined by European Union
antitrust regulators this week for fixing detergent prices, a
source with direct knowledge of the matter said on Monday.

Germany’s Henkel (HNKG_p.DE: Quote, Profile, Research), which alerted the European
Commission to the cartel in washing powder, will not be
penalised, the source said.

“The Commission is expected to announce its decision on
Wednesday,” the source said.

As part of the settlement procedure, the EU watchdog will
cut the fines by 10 percent in return for the companies’
admissions that they participated in the cartel, the source
added.

(Reporting by Foo Yun Chee, editing by Rex Merrifield)

Unilever, P&G face EU detergent cartel fines -source