Amazon is likely to face an EU antitrust investigation next year2024-11-21 18:35 by DanielaTags: Amazon
European regulators are reportedly set to investigate whether Amazon's marketplace favors its branded products. The European Union (EU) investigation is "likely" to come next year, Reuters reported Thursday (Nov. 21), citing sources with direct knowledge of the matter. The eCommerce giant could face a fine of as much as 10% of its annual turnover if found guilty of violating the EU's Digital Markets Act (DMA), which is aimed at curbing the power of the world's tech giants. According to the report, when and if an investigation actually occurs depends on incoming EU antitrust chief Teresa Ribera, who is expected to begin her tenure next month. Amazon said it complies with the DMA and has worked with the European Commission (EC) on its plans since two of its services were designated as "gatekeepers" between businesses and consumers under the act. The DMA, which went into effect in 2023, bars Amazon and other tech giants from showing preference to their products and services on their platforms. The EC said earlier this year it was compiling facts related to Amazon's treatment of its branded products on its marketplace. Read more -here-
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