Exclusive: Amazon seeking to settle EU antitrust investigations

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BRUSSELS, Nov 9 (Businesshala) – Amazon (AMZN.O) is seeking to settle two EU antitrust investigations that would block potentially hefty fines and intrusive orders to change its business practices, in this case people familiar with said.

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The European Commission in November last year accused the world’s largest online retailer of using its size, power and data to gain an unfair advantage over smaller merchants selling on its online platform.

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It also opened an investigation into Amazon’s own retail offerings and possible preferential treatment of market sellers who use its logistics and delivery services.

Amazon is engaged in preliminary discussions with EU competition promoters and the people said concessions have been made to address their concerns.

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Negotiations can take months to conclude, with no guarantee that the two sides will reach an agreement.

The commission, which could fine companies up to 10% of their global turnover and in Amazon’s case would come in at $38.6 billion based on last year’s revenue, declined to comment.

Reporting by Fu Yun Chi, Editing by Lewis Heavens

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