Russia drops competition probe into Mondi
Paper and packaging maker Mondi said on Monday that Russian competition authorities had dropped a probe into the firm's local unit.
Forestry & Paper
19,661.22
16:30 13/09/24
0.00%
0.00
FTSE 100
8,282.76
16:59 24/09/24
n/a
n/a
FTSE 350
4,567.19
17:10 24/09/24
n/a
n/a
FTSE All-Share
4,523.37
16:39 24/09/24
n/a
n/a
Mondi
1,390.00p
17:00 24/09/24
0.11%
1.50p
Russia's Federal Antimonopoly Service (FAS) had been investigating Mondi Syktyvkar for violation of the antimonopoly law in respect of the pricing of offset paper.
In a statement, Mondi said the FAS dropped the case "due to the absence of a dominating market position of Mondi Syktyvkar during the investigation period".
"Mondi remains committed to complying with all applicable antimonopoly laws," it added.
Mondi shares were up 1.22% at 1579p at 1350 GMT.