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RAPAPORT... The European Commission rejected all outstanding complaints against the Diamond Trading Company (DTC,) De Beers announced January 31, 2007.
"The DTC is pleased that, having at all times cooperated fully with the Commission, it has concluded that further action on its part is not justified," De Beers reported in a statement.
During the investigation into complaints filed against DTC and its supplier of choice (SOC) program, the marketing arm of De Beers confirmed it had voluntarily agreed that the scope of the SOC ombudsman's investigatory powers would be expanded.
"The mechanism by which the ombudsman reports to the Commission will also be more formally operated. The DTC believes that the ombudsman is an effective forum for the resolution of disputes relating to SOC and therefore welcomes the enhancements to this role," De Beers concluded.
Varda Shine, managing director of the DTC, said, “We are pleased with today’s announcement of the Commission’s decision. It demonstrates, once again, that supplier of choice has withstood scrutiny from one of the world’s most rigorous competition authorities and the recent complaints about supplier of choice are without merit.”
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