STORY: Amazon may have a plan to dodge a huge EU fine.
The world’s largest online retailer has offered to share marketplace data and boost the visibility of rival products.
That’s according to Reuters sources.
They say Amazon hopes the concessions will stave off an EU fine that could be as much as 10% of its global turnover.
The European Commission in 2020 charged the firm with using its size, power and data to push its own products, and gain unfair advantage over rivals that use its platform.
Amazon’s process for choosing which retailer appears in the so-called “buy box” on its web site also came under scrutiny.
The sources say the company now proposes to give sellers some access to marketplace data.
European competition watchdogs are expected to seek feedback from rivals and users in the coming weeks.
That could lead to tweaks to the proposals and, reportedly, a final decision by the end of the year.
There was no comment from Brussels or Amazon.