Russia drops competition probe into Mondi

19th Dec 2016 13:25

(ShareCast News) - Paper and packaging maker Mondi said on Monday that Russian competition authorities had dropped a probe into the firm's local unit.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.