May 21, 2019 / 7:00 PM / 9 months ago

Swiss court confirms SIX Group card payments fine

ZURICH, May 21 (Reuters) - SIX Group must pay a 7.029 million Swiss franc ($6.96 million) fine related to card payment transactions between 2005 and 2007, the Swiss Federal Administrative Court said on Tuesday, upholding a fine by the Swiss competition commission.

SIX Group abused its dominant position at the time by forcing merchants to use its terminals if they wished to access its acceptance and currency conversion services, the court said, following an appeal against the original ruling.

SIX, which operates the Swiss stock exchange, sold its card payments business to France’s Worldline for $2.75 billion last year.

The judgment may be appealed to the Federal Supreme Court. ($1 = 1.0106 Swiss francs) (Reporting by Silke Koltrowitz; Editing by Alexander Smith)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below