Amazon Likely To Reach Truce With EU Over Antitrust Concerns Soon - Amazon.com (NASDAQ:AMZN)

Amazon.com Inc AMZN looked to settle European antitrust probes over how the U.S. e-commerce giant uses rivals’ sales data and whether it unfairly favors its products.
The European Commission will likely accept Amazon’s binding proposals by the end of the year, Bloomberg reports.
The proposals included a commitment to stop using data on independent sellers on its marketplace for its competing retail business.
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It’s still subject to scrutiny from Germany’s Federal Cartel Office and the U.K.’s competition watchdog.
The company’s settlement offer also promises to apply equal treatment to all sellers when ranking their offers for the selection of the winner for a “buy box,” where Amazon highlights sellers of a particular product.
While the settlement will likely be rubber-stamped next month, it could extend into next year.
Settling the EU investigations means the company will avoid a fine of as much as 10% of its global turnover.
Price Action: AMZN shares traded higher by 1.29% at $94.62 on the last check Monday.