Nestle, Danone to cut Chinese infant milk prices amid probe

Swiss food company Nestle and French rival Danone are cutting the price of infant formula milk in China after Beijing launched an investigation into possible price-fixing and anti-competitive behaviour in the sector.

Wyeth Nutrition, which Nestle bought last year, said on Wednesday it had been co-operating with a probe by China’s National Development and Reform Commission (NDRC) and was responding by cutting prices and improving sales and marketing practices.

via Business feed http://www.scmp.com/news/china/article/1275122/nestle-danone-cut-chinese-infant-milk-prices-amid-probe