Steinway Responds to Antitrust Investigation in Switzerland
On Thursday of this week (November 29) Steinway & Sons, a subsidiary of Steinway Musical Instruments, Inc. (NYSE: LVB), announced that it has been informed by the Antitrust Commission of the Swiss Confederation (WEKO) that WEKO has initiated an investigation into Swiss dealers of Steinway & Sons and into Steinway & Sons Hamburg due to alleged violations of unfair competitive behavior in the distribution of grand and upright pianos.
Steinway & Sons stated that the company currently has, “no concrete information which competitive behavior is the subject of the investigation and is not aware of having violated Swiss Antitrust Law. Steinway & Sons will cooperate with the Swiss authorities to help clarify the facts as soon as possible.”









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