Business news from Ukraine

Business news from Ukraine

SUPREME COURT CONFIRMS UAH 431 MLN FINE IMPOSED ON LARGEST CIGARETTE DISTRIBUTOR TEDIS

The Supreme Court of Ukraine has confirmed the necessity of paying a UAH 431 million fine by the largest cigarette distributor Tedis Ukraine (earlier Megapolis-Ukraine) imposed by the Antimonopoly Committee of Ukraine, Committee Head Yuriy Terentiev has said.
“The Supreme Court has decided in favor of the Antimonopoly Committee in a long lawsuit concerning Tedis, the distributor of cigarettes. The decision of the committee dated December 16, 2016 was retained with the exception of a little clarification regarding the way of fulfilling the obligation to establish a transparent pricing mechanism,” he wrote on his Facebook page on Tuesday.
As reported, the committee at the end of 2016 imposed a fine of UAH 431 million on Tedis Ukraine for abuse of the monopoly position on the market, but the company appealed against this decision in court.

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