Haribo fined $2.9 million by competition watchdog

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BERLIN (AP) — Germany's competition watchdog says it has imposed a €2.4 million ($2.9 million) fine on confectionary company Haribo for improperly sharing information on sales negotiations with three rivals.

Haribo GmbH, best known for its gummi bear confections, said Wednesday it fully cooperated with the competition authority and accepts the fine.

The antitrust body says representatives of Bonn-based Haribo, the German unit of Mars Inc. and two other candy companies regularly met in 2006 and 2007 to exchange details of ongoing negotiations and discounts with retailers.

The investigation started after Mars alerted the authorities, thus escaping punishment itself. The investigation against the two other companies, who weren't named, is still under way.

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