SHOOT: Sasol shares are doing well today, obviously buoyed by world markets and interest in the SA developing market. Right now SASOL shares are trading at R275.02 with a movement of R8.53 so far today. Oil prices are also shooting towards the mid $50's as economic recovery sentiments increase.
I believe a share price of R900 for |SASOl is not inconceivable within the next 2 years.
(Reuters) - South African petrochemicals group Sasol will pay a fine of 188 million rand for fixing prices in the fertiliser sector, the company and the competition authority said on Wednesday.
Sasol said it had made provisions to cover the penalty.
The competition authority said the company, which was fined a 318 million euros fine by the European Commission last year for its role in a paraffin wax price-fixing cartel, had divided markets and fixed prices along with its competitors, Omnia and Yara.
The authority said the fine was the highest settlement reached with he competition commission to date and amounts to 6 percent of the Sasol Nitro division's turnover.
Omnia and Yara continue to deny the allegations, it said.
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clipped from moneyweb.profile.co.za
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