According to insiders, Amazon is attempting to resolve EU antitrust probes
11 November 2021, Mumbai:
According to sources familiar with the situation, Amazon is attempting to resolve two EU antitrust probes in order to avoid potentially huge penalties and onerous demands to adjust its business practices.
In November of last year, the European Commission sued Amazon for abusing its scale, influence, and data to obtain an unfair advantage over smaller businesses selling on its online marketplace.
It also launched an examination into whether Amazon treats its own retail offerings and those of marketplace vendors who utilise its logistics and delivery services differently.
According to the persons, Amazon is in preliminary talks with the EU competition regulator and has given concessions to resolve their worries.
Negotiations can take months to complete, and there is no certainty that both parties will reach an agreement.
The Commission, which may sanction firms up to 10% of their global turnover, or $38.6 billion in Amazon's case based on last year's revenue, declined to comment.
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