Russia's probe into Mondi unit Syktyvkar dropped

Mondi warned shareholders on 4 April that the Federal Anti-monopoly Service of the Russian Federation issued a press release saying that "it had initiated an investigation into Mondi Syktyvkar for violation of the anti-monopoly law in respect of the pricing of offset paper".

Image © Marquipward United

The anti-monopoly service said in Monday's announcement: "On December 15, the Federal Anti-monopoly Service of the Russian Federation announced on its website that the investigation into Mondi Syktyvkar for violation of the anti-monopoly law in respect of the pricing of offset paper has been terminated, due to the absence of a dominating market position of Mondi Syktyvkar during the investigation period".

Mondi has two shares trading on the JSE due to historical rules for its dual listing in Johannesburg and London.

Its MND shares rose 1% to R276.81 and its less liquid MNP shares 0.64% to R280 on Monday, after the announcement.

Source: BDpro