Nestle contemplates its options for L'Oreal

ZURICH, Switzerland Food company Nestle is considering all options for its stake in the French beauty company L'Oreal, according to reports.

L'Oreal has a market value of $70 billion and, according to Reuters data, Nestle has about a 28 percent stake in the cosmetics firm.

"It is irresponsible to say now what we do now with L'Oreal when you have this huge benefit of time to think about it properly and consider all of the options," Nestle chief financial officer Paul Polman reportedly said in a Web cast.