Austrian authorities opened an investigation against Amazon
The Austrian Federal Competition Authority (BWB) has launched an investigation against Amazon due to its likely misuse of its position in the market and the preference of its own products for Austrian retailers. This information was shared by AFP with reference to the statement of the Ministry.
“The digital world is not a legal vacuum,” BWB head Theodor Thanner said in a statement. “Companies operating on a global scale must adhere to applicable Austrian laws and regulations. The outcome might be commitments, an application for a fine or an application for termination of infringements to the Cartel Court.”
The BWB said that an investigation had been launched after receiving complaints in December 2018 regarding probable “unfair trade actions” by Amazon.
According to these complaints, the American company, in particular, suddenly and unreasonably deleted accounts of Austrian retailers.
The Austrian department said that the American retailer could also, by its actions, “discriminate against other retailers, preferring its own products on the Amazon market”.
"The results of the examination must be awaited before taking next steps," said BWB chief Thanner.
In other words, the results of the investigation may lead to warnings, sanctions or even fines against the Amazon.
Amazon`s spokesman commented the prosecution: “cooperate fully with the Austrian competition authority and continue working hard to support small and medium-sized businesses and help them grow.”
You can find more information about Amazon shares and the stock market on GMOTrading platform.
The information above cannot be considered as an investment advice and past results do not indicate future performance.
**Investors should have experience and understand the risks of losing all the initial investment
Comments
Post a Comment