Italy’s AGCM Ends Probe Into Otis After $1.45 Million Customer Refund Commitment

Italy’s competition watchdog, the Autorità Garante della Concorrenza e del Mercato (AGCM), has concluded its investigation into U.S. elevator manufacturer Otis after the company agreed to reimburse Italian customers approximately 1.45 million euros, according to Reuters.

The Italian Competition Authority (AGCM) is the competition regulator in Italy. It is an Italian quasi-autonomous non-governmental organization.

The AGCM probe was initially launched in response to allegations that Otis had installed devices on elevators that provided additional services for a fee without securing explicit customer consent. The company was also accused of delays in the installation of new elevators and inadequate handling of maintenance and renovation requests, per Reuters.

Read more: Italian Competition Authority Probes Alleged Antitrust Violations in Rail Sector

The settlement reached between Otis and the AGCM will result in refunds for about 7,700 customers, including private residents’ associations and small businesses, according to Reuters. This move is aimed at addressing concerns over the company’s past business practices and ensuring fair treatment of consumers.

In addition to issuing refunds, Otis has committed to refraining from installing any accessories on its elevators that would require extra payment without prior customer approval. The company has also pledged to enhance its customer service operations, in line with regulatory expectations.

Source: Reuters