Amazon on Tuesday reached a settlement with the European Union in three antitrust probes after the U.S. online retailer addressed the EU's concerns over its use of sellers' data, saving it from a fine of up to 10% of its global turnover.
The Amazon logo is displayed on a sign outside the company's LDJ5 sortation center, as employees begin voting to unionize a second warehouse in the Staten Island borough of New York City, U.S. April 25, 2022. REUTERS/Brendan McDermid./File Photoon Tuesday reached a settlement with the European Union in three antitrust probes after the U.S. online retailer addressed the EU's concerns over its use of sellers' data, saving it from a fine of up to 10% of its global turnover.
The company has agreed not to use sellers' data for its own competing retail business and its private label products. Amazon has agreed to set up a second prominently displayed buy box for a rival product if it differs substantially in price and delivery from the product in the first box. "The Commission has decided to accept commitments offered by Amazon. These commitments address our preliminary competition concerns about Amazon practices on its e-commerce marketplace," EU Competition Commissioner Margrethe Vestager told a news conference.
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Amazon reaches settlement in three EU antitrust cases, avoids fineAmazon on Tuesday reached a settlement with the European Union in three antitrust probes after the U.S. online retailer addressed the EU's concerns over its use of sellers' data, saving it from a fine of up to 10% of its global turnover.
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