Published by Global Banking & Finance Review®
Posted on April 3, 2025
1 min readLast updated: January 24, 2026
Otis resolved an antitrust probe in Italy by agreeing to a $1.6 million refund to customers, improving service and consent practices.
ROME (Reuters) -Italy's competition authority (AGCM) has closed its investigation into Otis, it said on Thursday, after the U.S. elevator maker said it would refund Italian customers to the tune of around 1.45 million euros ($1.6 million).
The company agreed to the payment without admitting any guilt, AGCM said in its ruling.
The regulator's investigation over alleged unfair commercial practices had been launched in October.
Otis was accused of installing devices on elevators that offered extra services for a fee without the explicit consent of customers, failing to meet deadlines for new installations, and handling maintenance and renovation requests inadequately.
The agreed refunds will benefit about 7,700 customers, including private residents' associations and small businesses, AGCM said in a statement.
In addition, the company agreed to abstain from installing on its lifts any accessories that entail the payment of an additional fee without the express consent of customers, and to improve its customer service.
($1 = 0.9080 euros)
(Reporting by Philippe Leroy Beaulieu; Editing by Alvise Armellini and Jan Harvey)
The main topic is Otis resolving an antitrust investigation in Italy by agreeing to a $1.6 million refund.
Otis was investigated for allegedly installing fee-based devices without customer consent and poor service practices.
Otis will refund customers, improve service, and ensure customer consent for additional fees.
Explore more articles in the Finance category
