Slovak MOL daughter to face more state inquiry
Friday, May 20, 2005, 12:37
The Slovak finance ministry has launched a second round of investigation into earlier allegations that Slovnaft, the Slovak unit of Hungary?s top oil group MOL, illegally fixed prices, business daily Napi Gazdaság reported. Last year the ministry accused Slovnaft of abusing its dominant market power by inflating costs to justify its higher prices. The firm was then ordered to pay a fine, but appealed against the decision saying the accusations were unsubstantiated. The ministry has said Slovnaft booked 824 million crowns in undue profit in Q1-Q3 of last year and also pointed to 528 million crowns worth of unjustified costs for 2002-2003.