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Switzerland: Swatch threatens to seek damages antitrust measures

By  |  December 19, 2019

Swatch Group threatened on Wednesday, December 18, to pursue damages after it claimed the Swiss competition authority COMCO wants to prohibit the world’s biggest watchmaker from supplying watch mechanisms to other companies during 2020. 

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    “The provisional measures adopted by COMCO are incomprehensible and unacceptable,” Swatch said in a statement. “In view of the negative financial repercussions that these decisions will entail, Swatch Group reserves the right to claim damages.” 

    COMCO Director Patrik Ducrey told Reuters the agency would issue a statement on Thursday, but said the approach the agency is taking in this long-running issue allows Swatch and its ETA subsidiary to continue delivering mechanisms to small and medium-sized watchmaking enterprises for now. A final decision is expected by summer 2020, Ducrey added.

    Full Content: Swiss Info

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