Slovakia's competition watchdog levied a fine of SLK 300m (US$ 11.46m) on Slovnaft for abusing its market position, the office said on Tuesday. The Antimonopoly Office said Slovnaft charged Shell Slovakia a higher price than rival OMV though Shell bought a larger volume of fuel for its petrol station chain. Slovnaft said it did not agree with the ruling and would appeal it within a deadline of 15 days from its delivery.
Our view: The news was slightly negative for MOL, however since the sum of the fine is less than 0.1% of MOL’s market cap no major market reaction was expected. However in contrast to other CEE Oils the investors were rather negative on the stock yesterday, which led to 0.6% slide in the share price.