Home / Business and Economy / German Watchdog Seizes €59M from Amazon Over Pricing
German Watchdog Seizes €59M from Amazon Over Pricing
5 Feb
Summary
- Amazon must stop enforcing retailer price controls on German marketplace.
- Germany's antitrust watchdog seized €59 million from Amazon.
- The regulator stated Amazon's actions risk controlling price levels.
Germany's Federal Cartel Office has mandated that Amazon cease enforcing price controls for retailers on its German online marketplace. The antitrust watchdog also confiscated €59 million ($70 million), an amount estimated to be Amazon's earnings from this practice.
The Cartel Office contends that Amazon's policy of de-listing or reducing the visibility of products with prices deemed too high contravenes digital economy regulations. These mechanisms are generally permissible only in exceptional circumstances, such as price gouging.
