Sonova welcomes decision by German Federal Supreme Court

(PresseBox) ( Stäfa (Switzerland), )
The judgment by the German Federal Supreme Court overruling the judgment prohibiting the acquisition of GN ReSound is a confirmation of well functioning, free and open competition in the hearing instrument industry.

"I am very pleased about the German Federal Supreme Court decision, which clearly confirms that intense competition in the hearing instrument industry is being waged over the most innovative products and the best priceperformance offering," commented Valentin Chapero, CEO of the Sonova Group. "Competition among manufacturers for the business of hearing care professionals stimulates the industry. This is the only way Sonova has been able to establish itself over the years as the leading provider of hearing healthcare solutions," said Chapero.

After the takeover of the ReSound Group was prohibited in 2007, Sonova joined the opposition proceedings led by ReSound at the German Federal Supreme Court as a joint appellant. The ruling from the German Federal Cartel Office and the competent court, Oberlandesgericht Düsseldorf in 2007, which prohibited the acquisition, was reversed by the German Supreme Court on April 20, 2010.

Sonova will not enforce any indemnity claims against the parties involved in the original case.

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