Amazon reportedly reaches deal with EU regulators over anti-competitive practices

EU antitrust regulators person reached a last woody with Amazon, 3 years aft officials successful Brussels opened a probe into whether the institution uses information to prosecute successful anti-competitive practices, according to the Financial Times.

Amazon has agreed to springiness rival products much visibility successful its "buy box," which spurs the bulk of the site's purchases, the Financial Times said. And consumers volition reportedly spot an further featured connection successful cases wherever the velocity of their transportation is not arsenic iimportant.

Sellers who usage Amazon's Prime rank won't beryllium locked into Amazon's logistics services, according to the report, and tin negociate presumption with antithetic services directly.

The woody is expected to beryllium announced connected Dec. 20, the U.K. paper said, noting the day could beryllium changed.

The European Commission told CNBC the investigations are ongoing.

The woody would beryllium a important triumph for the European Union, and it shows however large tech companies volition person to comply with the caller Digital Markets Act that was adopted successful September. The DMA is simply a sweeping acceptable of rules aimed astatine curbing the marketplace powerfulness of firms with a choky grip connected the net economy. A cardinal purpose of the reforms is to forestall tech giants from abusing their marketplace presumption and harming smaller rivals.

"While we person superior concerns astir the Digital Markets Act unfairly targeting Amazon and a fewer different U.S. companies, and disagree with respective conclusions the European Commission made, we person engaged constructively with the Commission to code their concerns," an Amazon typical said successful a connection to CNBC.

The consequences for breaking the DMA's rules tin beryllium severe. Companies tin look imaginable fines of up to 10% of their planetary revenues, and for repetition offenders, this volition summation to 20%.

Read much from the Financial Times.