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The European Commission is reportedly investigating whether Amazon is prioritizing private label products on its online marketplace. According to Reuters, Amazon could face an EU investigation next year
The European Commission is reportedly investigating whether Amazon is prioritizing private label products on its online marketplace.
According to Reuters, Amazon could face an EU investigation next year for violating the Digital Markets Act (DMA). The EU regulators want to check whether the online retailer prefers its own brand of products on its online marketplace. Amazon faces a fine of ten percent of its global annual sales. Since the news broke on Reuters, Amazon shares have already fallen three percent.
The Digital Markets Act (DMA) was created last year to keep the big tech giants under control. EU regulators are keeping an eye on things and currently have Amazon in their sights. The American online retailer would prioritize its private label products on its online marketplace. In this way, the tech giant is undermining competition, which is contrary to the DMA.
Amazon could face a fine of ten percent of its annual global sales. Whether or not to launch an investigation will be decided in the coming months by new EU antitrust chief Teresa Ribera, who will replace the outgoing Margrethe Vestager, sources told Reuters.
Since the first reports of the DMA investigation, Amazon shares have fallen by three percent to $196.91.
Source: IT Daily
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