Smurfit Kappa to 'vigorously appeal' €124m Italian price-fixing fine

Shares in paper and packaging group Smurfit Kappa fell marginally after it was hit with a €124m fine by Italy's competition authority over alleged price-fixing; a move which the company said it will "vigorously" appeal.

The Irish-based group's Italian subsidiary Smurfit Kappa Italia is one of around 50 companies - including fellow industry heavyweights DS Smith and International Paper - accused by Italy's competition regulator of "anti-competitive practices". The result comes after a two-year probe into the sector.