February 16, 2017 / 10:37 AM / 5 months ago

Nestle CEO says any change to L'Oreal stake would have to be done very carefully

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A cosmetic display of French cosmetics group L'Oreal is seen at a Carrefour hypermarket in Nice, France, April 6, 2016.Eric Gaillard

VEVEY, Switzerland (Reuters) - Nestle's (NESN.S) new chief executive said on Thursday the company's 23 percent stake in French cosmetics firm L'Oreal (OREP.PA) was a significant and strategic asset and any change would have to be done very carefully.

"L'Oreal is a significant investment and anything you do on the equity would have to be done very prudently," Mark Schneider told a new conference, adding L'Oreal had delivered "stellar results" and was a "strategic asset."

Reporting by Silke Koltrowitz

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