MILAN – Italy’s competition authority (AGCM) has opened an investigation into U.S. elevator maker Otis Worldwide’s (NYSE: OTIS) Italian business over alleged unfair commercial practices, the watchdog said on Friday.
Otis is suspected of having installed on elevators devices that offer services for a fee without explicit consent from customers, AGCM said in a statement, adding that the company may also have failed to meet deadlines for new installations and handled maintenance and renovation requests inadequately.
Officials from the competition authority and members of Italy’s tax police have inspected several Otis offices in Italy as part of the investigation, AGCM said.
Otis Worldwide and its Italian business did not respond immediately to emailed requests for comment.
(Source: Reuters)
