Kraft Foods to rename snacks company Mondelez

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NORTHFIELD, Ill. (AP) — Kraft Foods Inc. says its new global snacks company will be named Mondelez International Inc.

Mondelez (mohn-dah-LEEZ) was inspired by the suggestions of two separate Kraft employees. It is intended to evoke the idea of a "delicious world" as "monde" is derived from the Latin word for "world" and "delez" as an expression of "delicious."

Kraft is splitting into two public companies before the end of 2012. The North American grocery business will continue to carry the company name as Kraft Foods Group Inc.

Shareholders will have to approve the name at a meeting in May.

The company has also reserved the stock symbol "MDLZ" for trading under the new name. The new stock symbol for its grocery business will be revealed at a later date.

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