Slovnaft might survive penalty
Monday, May 23, 2005, 00:00
The Slovakian Finance Ministry withdrew a decision made last year in which it imposed Sk1.3 billion (33 million Euro) penalty on Slovnaft, the Slovakian subsidiary of Hungarian oil and gas company MOL Rt claiming that the latter abused its market dominance, English language newspaper Slovak Spectator reported based on information from Czech daily Hospodárske Noviny. The latter said that Finance Minister Ivan Miklos unexpectedly withdrew the decision and said that the ministry would investigate the issue further. This had been announced a few days earlier, but the withdrawal of penalty was not mentioned, thus Slovnaft planned to take issue to court.