Ferrero set to end Cadbury takeover interest

Prospects of a bid battle for Cadbury were dampened today after reports suggested Italian chocolate group Ferrero had abandoned plans to rival Kraft’s £10.5bn (€11.7bn) offer.

It is understood that Ferrero – the privately-owned group behind Nutella and Ferrero Rocher chocolates – had dropped talks with mooted US bid partner Hershey and decided not to compete with Cadbury’s American suitor Kraft.