Otis Worldwide Unit to Pay $1.7 Million to Settle Italian Competition Authority's Probe

MT Newswires Live

Apr 03, 2025

Otis Worldwide's (OTIS) Otis Servizi unit has agreed to pay 1.5 million euros ($1.7 million) to settle the Italian Competition Authority's investigation into the company, the regulator said Thursday.

The investigation was opened in October in response to the installation of Otis One, which requires payments, on elevators without consent in some cases, as well as user complaints about delays in installation or repair services, the regulator said.

Otis' payment will be issued to consumers in the form of refunds and/or compensation for service delays or complications, and the company has agreed to install paid accessories on lifts after obtaining express consent, the regulator said.

Otis Worldwide did not immediately respond to MT Newswires' request for comment.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2524327258"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2524327258\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2524327258?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-04-03 19:19","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2524327258","market":"fut","top_or_hot":-1,"title":"Otis Worldwide Unit to Pay $1.7 Million to Settle Italian Competition Authority's Probe","media":"MT Newswires Live","content":"<html><body><p> Otis Worldwide's (OTIS) Otis Servizi unit has agreed to pay 1.5 million euros ($1.7 million) to settle the Italian Competition Authority's investigation into the company, the regulator said Thursday.</p><p>The investigation was opened in October in response to the installation of Otis One, which requires payments, on elevators without consent in some cases, as well as user complaints about delays in installation or repair services, the regulator said.</p><p>Otis' payment will be issued to consumers in the form of refunds and/or compensation for service delays or complications, and the company has agreed to install paid accessories on lifts after obtaining express consent, the regulator said.</p><p>Otis Worldwide did not immediately respond to MT Newswires' request for comment.</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Otis Worldwide Unit to Pay $1.7 Million to Settle Italian Competition Authority's Probe</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOtis Worldwide Unit to Pay $1.7 Million to Settle Italian Competition Authority's Probe\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1092851196\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">MT Newswires Live </p>\n<p class=\"h-time\">2025-04-03 19:19</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p> Otis Worldwide's (OTIS) Otis Servizi unit has agreed to pay 1.5 million euros ($1.7 million) to settle the Italian Competition Authority's investigation into the company, the regulator said Thursday.</p><p>The investigation was opened in October in response to the installation of Otis One, which requires payments, on elevators without consent in some cases, as well as user complaints about delays in installation or repair services, the regulator said.</p><p>Otis' payment will be issued to consumers in the form of refunds and/or compensation for service delays or complications, and the company has agreed to install paid accessories on lifts after obtaining express consent, the regulator said.</p><p>Otis Worldwide did not immediately respond to MT Newswires' request for comment.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1718418525.SGD","symbol_name":"JPMorgan Investment Funds - Global Select Equity A (acc) SGD","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2524327258","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2524327258","pubTimestamp":1743679196,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"Otis Worldwide's  Otis Servizi unit has agreed to pay 1.5 million euros  to settle the Italian Competition Authority's investigation into the company, the regulator said Thursday.The investigation was opened in October in response to the installation of Otis One, which requires payments, on elevators without consent in some cases, as well as user complaints about delays in installation or repair services, the regulator said.Otis' payment will be issued to consumers in the form of refunds and/or compensation for service delays or complications, and the company has agreed to install paid accessories on lifts after obtaining express consent, the regulator said.Otis Worldwide did not immediately respond to MT Newswires' request for comment.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1718418525.SGD":"JPMorgan Investment Funds - Global Select Equity A (acc) SGD","LU0912757837.SGD":"JPMorgan Investment Funds - Global Income A (mth) SGD-H","LU1506573853.SGD":"MANULIFE GF GLOBAL EQUITY \"AA\" (SGD) INC","LU0661504455.SGD":"Blackrock Global Equity Income A5 SGD-H","LU0823417653.USD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"C\" (USD) ACC","BK4561":"索罗斯持仓","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","LU0738911758.USD":"Blackrock Global Equity Income A6 USD","LU0011850046.USD":"贝莱德全球长线股票 A2 USD","LU0545039389.USD":"BGF GLOBAL EQUITY INCOME \"A2\" ACC","LU2347655156.SGD":"JPMorgan Investment Funds - Global Income A (icdiv) SGD-H","BK4161":"工业机械","LU0795875086.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD","BK4532":"文艺复兴科技持仓","BK4585":"ETF&股票定投概念","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","LU2506951875.HKD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"CRH\" (HKDHDG) ACC","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","OTIS":"奥的斯","BK4505":"高瓴资本持仓","LU0795875169.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD-H","LU2506952097.USD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"CRH\" (USDHDG) ACC","LU1732800096.USD":"摩根大通环球收益基金A (irc)","LU0823417737.USD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"C\" (USD) INC","LU2506951958.HKD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"CRH\" (HKDHDG) INC","LU1153585028.USD":"BGF GLOBAL LONG-HORIZON EQUITY  \"A4\" (USD) INC","LU1732799900.SGD":"JPMorgan Investment Funds - Global Income A (irc) SGD-H","LU0950375773.USD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"C\" (USD) INC A","BK4588":"碎股","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","LU0949170772.SGD":"Blackrock Global Equity Income A6 SGD-H","LU2506952170.USD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"CRH\" (USDHDG) INC","LU1003077747.HKD":"BGF GLOBAL EQUITY INCOME \"A6\" (HKDHDG) INC","LU0553294199.USD":"BGF GLOBAL EQUITY INCOME \"A5G\" (USD) INC"},"translate_title":"奥的斯全球子公司将支付170万美元以解决意大利竞争主管机构的调查","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"OTIS":0.9},"content_text":"Otis Worldwide's (OTIS) Otis Servizi unit has agreed to pay 1.5 million euros ($1.7 million) to settle the Italian Competition Authority's investigation into the company, the regulator said Thursday.The investigation was opened in October in response to the installation of Otis One, which requires payments, on elevators without consent in some cases, as well as user complaints about delays in installation or repair services, the regulator said.Otis' payment will be issued to consumers in the form of refunds and/or compensation for service delays or complications, and the company has agreed to install paid accessories on lifts after obtaining express consent, the regulator said.Otis Worldwide did not immediately respond to MT Newswires' request for comment.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"policyRegulatory","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"}}}