Amazon To Change Business Practices To Settle EU Probe

(RTTNews) - Big box retailer, Amazon.com Inc (AMZN) is considering to make changes to its selling and marketing practices to put an end to antitrust investigations by European Union.

The company has been entangled in two anti-trust lawsuits issued by the continental watchdogs which alleged Amazon for using its huge reach and platform for stunting local sellers.

In a recent statement, the EC said that the company has agreed to treat the local sellers equally and it will not use the seller data for its own business. The bloc's antitrust department also probed into the company's delivery details to see if the company is employing unethical tactics to downplay the delivery of the local merchants and thereby, boosting its sales.

The company promises to treat the local sellers equally in its "Big Box" spot which often drives very high traffic. The company will also allow the vendors to choose their own delivery partners. As a result, the company might be able to avoid the antitrust crackdown on big tech companies and which could end up Amazon facing fines of up to 10% of its global revenue.

The EU is also on the verge of enforcing its new Digital Markets Act that will make life tougher for the tech conglomerates. A company spokesperson reportedly said, "While we have serious concerns about the Digital Markets Act unfairly targeting Amazon and a few other US companies, and disagree with several conclusions the European Commission made, we have engaged constructively with the Commission to address their concerns and preserve our ability to serve European customers and the more than 185,000 European small and medium-sized businesses selling through our stores. No company cares more about small businesses or has done more to support them over the past two decades than Amazon."

Amazon's document will now be handed over to the third party and will accept proposals till September 9.