Swatch lawyer flags Weko agreement over watch movements

GRENCHEN, Switzerland, March 6 Wed Mar 6, 2013 6:07am EST

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GRENCHEN, Switzerland, March 6 (Reuters) - The world's largest watchmaker Swatch Group has reached an undisclosed agreement in principle with Swiss competition officials over watch movements to third parties, the luxury watchmaker's chief lawyer said on Wednesday.

"We have reached an agreement...the next step is to take it to the entire Weko commission which we expect sometime towards the end of March, and then decide how to proceed," Swatch lawyer Hanspeter Rentsch said at a press conference.

Rentsch gave no details of the agreement reached with Weko officials. (Reporting by Katharina Bart)

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