|
Tiffany said it was considering an appeal.
An arbitration panel in the Netherlands had ordered Tiffany in
December 2013 to pay Swatch 402 million Swiss francs ($404.5
million) in damages over the aborted project to produce and
market watches.
Swatch had booked the money as one-off income in 2013, before a
lower Dutch court overturned the panel's ruling in 2015.
Swatch appealed against that decision and has now won the
appeal, a spokesman for the court in Amsterdam said.
"Swatch Group was convinced that the arbitration award of
December 21, 2013 was issued correctly and contained no formal
error. This was confirmed by the judgment of the Court of Appeal
of Amsterdam today," the Swiss group said in a statement.
But Tiffany said the case might still go to another round.
"We have the right to appeal the Appellate Court's decision to
the Supreme Court of the Netherlands and are evaluating that
option," a company spokesman said by email in response to a
query.
Swatch shares rose 1.9 percent by 1225 GMT, while Tiffany shares
had not started trading.
(Reporting by Zurich newsroom; Editing by Adrian Croft)
[© 2017 Thomson Reuters. All rights
reserved.] Copyright 2017 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
