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Provider: Reuters Investment Profile
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Provider: Ford Investor Services, Inc.
Provider: Sadif Analytics Prime

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Swiss Competition Authority Launches Swisscom AG Investigation-DJ

Friday, 19 Jul 2013 06:36am EDT 

Dow Jones reported that Switzerland's competition authority WEKO said it was launching an investigation into allegations of anti competitive behaviour by telecommunications company Swisscom AG. WEKO began its inquiry following complaints, denied by Swisscom, that the Company had abused its dominant market position when bidding for broadband internet contracts with business customers in Switzerland. In its latest investigation, WEKO said there were indications that Swisscom, which has 54% of internet subscriptions in Switzerland, used its dominant position to prevent competitors bidding for contracts with the Swiss post office. WEKO said there was evidence that Swisscom set the wholesale price to access its network too high for rivals to make competitive offers, resulting in Swisscom winning the contract. If Swisscom is found to be anti competitive, the Company could face a fine of up 10% of its revenue over the past three years. A spokesman for WEKO said the investigation is likely to last 18 months. Swisscom said it was amazed at the investigation, and rejected allegations that it had unlawfully impeded competition. 

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0.225 +0.40%
1:17pm EDT