Kernel-Trade and Suntrade pay a USD 2 mln fine

Kernel-Trade (a part of Kernel Group (KER PW: N/R) and Suntrade have paid a fine of USD 1 mln each for unjustified price hikes in July-August 2007, the Antimonopoly Committee of Ukraine (AMCU) said yesterday. Initially the AMCU had fined both companies USD 11.9 mln each, but then it reduced the fine. Anna Dudchenko: The news that actual fine turned out much smaller than initially announced is clearly positive for Kernel. That said, the smaller fine is fully in line with our previous expectations that Kernel and Suntrade would manage to reduce their penalties.