EU hits Amazon with antitrust charges. A huge fine could followThe European Union has unveiled formal antitrust charges against Amazon for abusing its dominance in online shopping and opened a second investigation into the company's business practices. Margrethe Vestager, the European Commission's top antitrust official, accused Amazon on Tuesday of illegally abusing its dominant position as an online marketplace in Germany and France, the company's biggest markets in the European Union. The Commission opened a formal investigation into Amazon (AMZN) in July 2019 to probe its dual role as marketplace and retailer. It has been looking into agreements between Amazon and independent retailers, and whether data from sellers is being unfairly used by the e-commerce giant, which also sells its own products.

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Staaan avatarLevel 19

Amazon is making all other merchants obsolete. I am curious about how the situation will be in 10-15 years. Their 3rd party sellers are just their little puppets used for data collection.

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