Reuters: Regulatory News: Steinway says piano unit under investigation by Swiss authorities

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Steinway says piano unit under investigation by Swiss authorities Nov 29th 2012, 06:16 Thu Nov 29, 2012 1:16am EST Nov 29 (Reuters) - Steinway & Sons, the famous piano unit of Steinway Musical Instruments Inc, said antitrust authorities in Switzerland are investigating the company's Swiss dealers over allegations of unfair competition. The Antitrust Commission of the Swiss Confederation (WEKO) is also investigating Steinway & Sons Hamburg for unfair competitive behavior in the distribution of grand and upright pianos, the company said in a statement early on Thursday. Steinway & Sons said it is not aware of having violated Swiss antitrust law and said it will cooperate with Swiss authorities "to help clarify the facts as soon as possible." The company's pianos have been used by legendary artists like Cole Porter and Sergei Rachmaninoff and by contemporary ones like Chinese concert pianist Lang Lang.

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