• Mon. Feb 26th, 2024

Amazon proposes concessions as it looks to settle EU antitrust cases: report


Jul 14, 2022 , ,
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Amazon.com Inc.

has proposed on Thursday certain concessions as the e-commerce giant looks to settle antitrust cases against it in the European Union, according to a report by the Wall Street Journal. Amazon’s stock fell 0.9% in premarket trading. As part of the concessions, Amazon said it will not use nonpublic data about sellers on its marketplace that would help it compete with third-party sellers, and will allow Prime sellers to choose any delivery services, the newspaper reported. The report said Amazon wouldn’t pay a fine if its concessions are accepted. Amazon’s stock has dropped 27.2% over the past three months through Wednesday, while the S&P 500

has lost 13.5%.

Image and article originally from www.marketwatch.com. Read the original article here.