SOURCE: Stora Enso Oyj

December 21, 2006 07:09 ET

Finnish Competition Authority proposes a fine on Stora Enso for price collaboration in wood procurement in Finland

HELSINKI, FINLAND -- (MARKET WIRE) -- December 21, 2006 -- Stora Enso Oyj News Release December 21, 2006 at 12.00 GMT

HELSINKI, Finland - Stora Enso (NYSE: SEO) today announced that the Finnish Competition Authority has proposed to the Finnish Market Court that a fine of EUR 30 million be imposed on Stora Enso for violating competition laws in the purchasing of timber in Finland in the period from 1997 to 2004. Stora Enso considers the proposal groundless.

The Group has not made a provision.

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