EU says it will investigate Amazon over possible anti-competitive business practices

EU Commissioner for Competition Margrethe Vestager addresses a press conference on two state aid cases at the European Commission in Brussels on October 4, 2017.Emmanuel Dunand | AFP | Getty ImagesEU antitrust regulators will investigate Amazon, the world’s largest online retailer, to see if its use of other merchants’ data breaches EU competition rules, the European Commission said on Wednesday.Competition Commissioner Margrethe Vestager said the formal investigation will determine how Amazon uses data from independent retailers who sell on its marketplace. « We need to ensure that large online platforms don’t eliminate these benefits through anti-competitive behaviour, » Vestager said. « I have therefore decided to take a very close look at Amazon’s business practices and its dual role as marketplace and retailer, to assess its compliance with EU competition rules. »This is a breaking news story, please check back later for more.—Reuters contributed to this report.

Source: CNBC

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