Italy’s antitrust regulator announced fining Amazon 1.13 billion euros ($1.28 billion) for alleged abuse of market dominance, according to a report by Reuters on Thursday.
- Amazon noted that it “strongly disagreed” with the Italian regulator’s decision and further stated they were appealing the decision.
- Global regulatory scrutiny of technology companies has been rising after a series of scandals over privacy and misinformation on rising complaints from businesses.
- Amazon, Google, Facebook Inc, Apple Inc, and Microsoft Corp have attracted higher scrutiny in Europe.
- Italy’s antitrust regulator stated that Amazon had capitalized on its dominant position in the Italian market for intermediation services to support the adoption of its logistics service.
- The watchdog further noted that Amazon linked FBA access to come up with exclusive benefits, including the Prime label that increases visibility and boosts sales.
The antitrust authority stated that they were imposing corrective measures subject to review by the monitoring trustee. AMZN down -0.15%, Pre-market trading