Amazon Agrees Final Deal To Close EU Antitrust Probes

Amazon has reached a final deal with EU antitrust regulators over concerns its use of data undermined rivals, in a move that will close two of the most high-profile probes in Brussels. From a report: The US ecommerce group has committed to increasing the visibility of rival products by giving them equal treatment on Amazon's "buy box," which generates the majority of purchases on the site. It will also create an alternative featured offer for those buyers where speed of delivery is less important. The European Commission plans to announce the deal on December 20, according to four people with direct knowledge of the timing. However they warned the date could still change at the last minute. The commitments, which are set to remain in force for five years, have been "market tested" with rivals and agreed with EU officials, these people said. "There's very little to discuss," a person with knowledge of the process said. The move represents a win for the EU as it will serve as a blueprint for the tech group's compliance with the new Digital Markets Act, a piece of legislation aimed at curbing the power of Big Tech. It also means Amazon will avoid formal charges of breaking EU law and a large fine of up to 10 per cent of global revenues.

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