- Germany’s antitrust watchdog has initiated a fresh investigation into alleged exploitation of Amazon.com Inc’s AMZN market dominance, Reuters reports.
- The investigation is focused on Amazon’s price control mechanisms and third-party trader relationships.
- Germany’s amended antitrust laws for digital corporations offer more discretion to the Federal Cartel Office (FCO) for detecting and barring the misuse of dominant positions by the companies, CNBC reports.
- Section 19a of the January 2021’s German Competition Act (GWB) enables the FCO to arbitrate quickly against large digital companies’ practices, TechCrunch reports.
- Technology firms like Alphabet Inc GOOG GOOGL Google, and Amazon.Com Inc AMZN spent $2.7 million and $4.8 million on lobbying in Q1 following growing U.S. Congressional antitrust scrutiny.
- Previously, the Indian antitrust body used Reuters’ evidence in an Amazon antitrust probe.
- Price action: AMZN shares closed lower by 1.17% at $3,232.28 on Tuesday.
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