EU Watch Probe Not Linked To Swiss Investigation
05 August 2011 - 10:19PM
Dow Jones News
The European antitrust investigation against luxury watch
manufacturers isn't linked to an ongoing Swiss probe against Swatch
Group AG (UHR.VX), a spokesman for the Swiss Competition Commission
said Friday.
"The EU probe against watch makers is not linked to our
investigation and we are not in contact with the EU on this," said
Patrick Ducrey of the Swiss Competition Commission, or WEKO.
The WEKO launched a probe against Swatch in June after the Swiss
watch maker asked the regulatory body to find out whether the
company's intention to reduce its supply of dials, movements and
other parts to other Swiss watchmakers is in line with competition
rules.
The European Commission earlier Friday said it is opening an
antitrust investigation into luxury watch manufacturers for
allegedly refusing to supply spare parts to independent
repairers.
-By Goran Mijuk, Dow Jones Newswires, +41 43 443 80 47;
goran.mijuk@dowjones.com
Swatch (PK) (USOTC:SWGAY)
Historical Stock Chart
From Jun 2024 to Jul 2024
Swatch (PK) (USOTC:SWGAY)
Historical Stock Chart
From Jul 2023 to Jul 2024