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AMAZON.COM, INC.

(AMZN)
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Amazon settlement with EU antitrust regulators possible by year end -sources

11/25/2022 | 02:41pm EST
French Amazon unions carry out protests on Black Friday

BRUSSELS (Reuters) - U.S. online retail giant Amazon may be able to end two EU antitrust investigations by the end of the year after tweaking concessions to address concerns over its use of sellers' data, two people familiar with the matter said on Friday.

Settling the EU investigations means the company will avoid a fine of as much as 10% of its global turnover.

Faced with charges of using its size, power and data to push its own products to gain an unfair advantage over rival merchants that also use its platform, Amazon in July offered to refrain from using sellers' data for its own competing retail business and its private label products.

The European Commission then sought feedback from rivals and customers and subsequently said the company needed to improve its concession.

Amazon has increased the range of data which it cannot use, one of the people said.

"It is possible an EU decision will come by the end of the year," the person said.

The EU competition enforcer did not immediately respond to a request for comment.

Asked for comment, Amazon reiterated that it had engaged constructively with the Commission to address their concerns.

The company's other concession is equal treatment of sellers when ranking their offers for the "buy box" on its website that generates the bulk of its sales.

It has offered to set up a second buy box for a rival product if it differs substantially in price and delivery from the product in the first box.

Bloomberg was the first to report the possibility of an EU decision by the end of the year.

(Reporting by Foo Yun Chee; editing by Philippa Fletcher)

By Foo Yun Chee


ę Reuters 2022
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Financials (USD)
Sales 2022 511 B - -
Net income 2022 -1 088 M - -
Net cash 2022 19 711 M - -
P/E ratio 2022 -993x
Yield 2022 -
Capitalization 1 073 B 1 073 B -
EV / Sales 2022 2,06x
EV / Sales 2023 1,86x
Nbr of Employees 1 608 000
Free-Float 85,8%
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Mean consensus BUY
Number of Analysts 53
Last Close Price 105,15 $
Average target price 135,61 $
Spread / Average Target 29,0%
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Managers and Directors
Andrew R. Jassy President, Chief Executive Officer & Director
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Jeffrey P. Bezos Executive Chairman
Patricia Q. Stonesifer Independent Director
Jonathan Jake Rubinstein Lead Independent Director
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