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EU wants to investigate Amazon for possible anticompetitive practices



EU Competition Commissioner Margrethe Vestager will hold a press conference on two state aid cases in Brussels on 4 October 2017.

Emmanuel Dunand | AFP | Getty Images

EU antitrust authorities will investigate Amazon, the world's largest online retailer, to see if using other merchants' data violates the competition rules.

Competition Commissioner Margrethe Vestager said the EU has opened a formal investigation to determine how Amazon uses data from independent retailers selling in the company's marketplace. The investigation focuses on Amazon's "dual role" as a retailer and marketplace, Vestager said.

"Based on the Commission's preliminary findings, Amazon appears to use competitive information ̵

1; about sellers in the marketplace, their products and transactions in the marketplace," Vestager said.

The European Commission, the executive branch of the EU, began questioning traders about how Amazon gathered their data last year. If the EU finds that Amazon violates competition rules, the company can be fined up to 10% of the world's annual turnover.

In a statement, Amazon said: "We will fully cooperate with the European Commission and continue to work hard to support the … companies of all sizes and help them grow."

Amazon is facing a tougher worldwide subjected to regulatory control. On Wednesday, the German antitrust commissioner announced that he had reached an agreement with the e-commerce giant to revise its third party terms of service.

Amazon shares were traded unaltered for long periods of time following the announcement of the EU investigation. [19659010]
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