What you need to know
- Amazon is set to be charged by the EU over antitrust violations.
- It's expected to take a year for the commission to decide if Amazon has breached antitrust laws, or not.
- The company could be fined up to 10% of its annual revenue if found guilty.
Amazon is set to face new antitrust charges by the European Commission, as per a new report by the Wall Street Journal.
The Journal reports:
Even if Amazon is charged, the Journal notes that it would take an additional year before the Commission will rule on whether Amazon did breach antitrust laws or not. If found to have breached those laws, it could be fined up to 10% of its annual revenue and forced to change the way it did business.
The Wall Street Journal earlier reported that Amazon used data from competing third-party sellers when it was developing its own products, despite claiming that it didn't when questioned by the U.S. Congress.
It had also fallen under scrutiny by the U.S. Department of Justice last year, who has also been investigating it to see whether it has abused its power for market dominance.
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