Audio By Carbonatix
The European Union has unveiled formal antitrust charges against Amazon for abusing its dominance in online shopping.
Margrethe Vestager, the European Commission's top antitrust official, said on Tuesday that an investigation found that Amazon may have illegally abused its dominant position as a marketplace service provider in Germany and France, the company's biggest markets in the European Union.
Amazon used non-public seller data to feed into its own retail algorithms to decide what new products to launch and the price of each new offer, Vestager said.
"We do not take issue with the success of Amazon or its size, our concern is the very specific business conduct that appears to distort competition," she added.
The EU unveils formal antitrust charges against Amazon, alleging the company is unfairly using data from independent sellers https://t.co/jmDCMHQDY4
— CNN Breaking News (@cnnbrk) November 10, 2020
The European Commission said in July last year that it had opened a formal investigation into Amazon (AMZN) to probe its dual role as marketplace and retailer.
The Commission has been looking into agreements between Amazon and independent retailers, and whether data from sellers is being unfairly used by the e-commerce giant, which also sells its own products.
The Commission said on Tuesday that its preliminary view is that Amazon has breached EU antitrust rules, but that its investigation must be completed before any penalties are imposed.
How big tech companies use data and deal with their smaller rivals has become a major focus for regulators on both sides of the Atlantic.
The US Department of Justice last month accused Google of stifling competition to maintain its powerful position in the marketplace for online search and search advertising.
The European Union has emerged as a key battleground for tech because of its tough rules on data protection, hate speech, taxation and competition issues.
EU officials have a track record of hitting US tech companies such as Google (GOOGL) with fines worth billions and Amazon may suffer the same fate.
Latest Stories
-
Accra Open Championships conclude with strong performances ahead of African Championships
6 minutes -
Ghana to begin camping with 12 athletes after Accra Open Championships – Bawa Fuseni
28 minutes -
Anthony Joshua declines showdown with Tyson Fury but admits they ‘probably’ clash next
41 minutes -
Tyson Fury dominates Makhmudov, calls out Joshua next
1 hour -
I have supported highway authority financially to fix roads in my constituency – A PlusÂ
2 hours -
US, Iran fail to reach peace agreement after marathon talks in Pakistan
2 hours -
ECG kicks off Phase Two of transformer upgrades at Lashibi; brief outages expected
3 hours -
Port crises loom as 11,000 drivers threaten four-day strike
4 hours -
A source of excellence across generations – Vice President Opoku-Agyemang lauds Mfantsipim
5 hours -
(Photos) Mfantsipim School launches historic 150th anniversary
5 hours -
Knights and Ladies of Marshall group backs Catholic Bishops’ stance on anti-LGBTQ+
6 hours -
Bright Simons writes: All the Filla in the Ibrahim Mahama/E&P – Gold Fields Saga
6 hours -
Monetise Idiocy In Ghana
7 hours -
The Ghanaian prophet and the mysterious death of his scottish wife Charmain Speirs
7 hours -
Nearly 400 sentenced in Nigeria for links to militant Islamists
8 hours