Earlier in the day, Ukraine’s antimonopoly committee slapped a staggering 283.6 million fine  on three companies affiliated with ‘Roshen Europe BV’ for the alleged anitmonopoly  violations, arguing the penalty was imposed for syrup price manipulations impacting other marker players.

The fine and reported accusations drew a swift response of Roshen management.

The company’s press service said Wednesday they are going to appeal the decision of the antimonopoly committee, calling it ‘unfounded and groundless’.

Roshen claim the decision has a ‘purely political context’ targeting the opposition party ‘European Solidarity’ leader Petro Poroshenko, who is the beneficiary of the companies.

‘Without conducting any economic and technological examinations, the Antimonopoly Committee of Ukraine incorrectly defined the market, which artificially narrowed its borders and distorted the position of companies in it’, the statement goes.

The press service adds the AMCU did not give companies the opportunity to present the arguments in the case, as the regulator failed to announce the date, time and place of the hearing.

The penalized companies do not agree with the decision of the antimonopoly committee and will ‘seek  reversal in courts to protect their business reputation’.