Amazon settles deal to close EU antitrust probes - report

Tuesday, 06. December 2022 15:44

Amazon.com Inc. reached a settlement with the European Union antitrust regulators following probes into the e-commerce giant's anti-competitive practices on the platform, the Financial Times cited sources on Tuesday.

According to the report, the American corporation pledged to give competing products "equal treatment" in Amazon's "buy box," and develop "an alternative featured offer" for customers "where speed of delivery is less important." The newly agreed-upon regulations will be in effect for five years and will permit the world's largest online retailer to operate in conformity with EU law without incurring a fine of up to 10% of global sales, the report noted.

Additionally, the American business reportedly will free its Prime-membership sellers from being forced to use Amazon's shipping services by letting them select any logistics provider and directly negotiate terms.

Related Links: Amazon.com Inc.
Author:
Baha Breaking News (BBN) / AB