Prime target: EU launches antitrust probe into Amazon
Online retailer Amazon became the target of a competition investigation by the European Union Wednesday over its use of merchants' data. The probe underlines the increasing regulatory scrutiny of how tech companies exploit customer information to boost their market power.
The European Commission has been seeking feedback from retailers and manufacturers since September into Amazon's dual role as a marketplace for merchants and acting as a competitor following complaints from traders about Amazon's practices.
European Competition Commissioner Margrethe Vestager, who can fine companies up to 10% of their global turnover, said the issue was crucial as more and more Europeans shop online. Amazon said it would cooperate fully with the EU investigation.