Nestle says approach to L'Oreal stake unchanged

Nestle said on Tuesday its approach to its 23 percent stake in French cosmetics firm L‘Oreal was unchanged after the death of L‘Oreal heiress Liliane Bettencourt last week triggered speculation of an ownership shake-up.

“Our approach to the L‘Oreal investment is currently not changing,” Chief Executive Mark Schneider told investors at the food group’s investor seminar in London after offering condolences to the Bettencourt family.