Amazon Proposes Concessions to End EU Antitrust Probe
2022.07.14 14:15
Amazon (AMZN) Proposes Concessions to End EU Antitrust Probe
By Senad Karaahmetovic
Amazon (NASDAQ:AMZN) has offered concessions to the European Union as it works to settle two antitrust cases.
The e-commerce giant offered to stop using nonpublic data about sellers on its marketplace. The EU previously accused Amazon of violating its competition law by leveraging nonpublic data from sellers to compete against them.
If the settlement is finalized, Amazon won’t pay a fine. Otherwise, the EU Commission can choose not to settle and work to force Amazon to change its business practices. The fine could be as much as 10% of Amazon’s annual global revenue.
The Commission said it is now looking to receive feedback on commitments offered by Amazon to settle the cases.
