Skip to main content

Market Overview

India's Antitrust Body Uses Reuters' Evidence In Amazon Probe: Reuters

Share:

India’s antitrust body shared a February Reuters report with the court over Amazon.Com Inc’s (NASDAQ: AMZN) alleged preferential treatment to a small group of sellers on its India platform, triggering a probe into the e-commerce company, Reuters reports.

  • The Competition Commission of India (CCI) launched a probe into Amazon and Walmart Inc’s (NYSE: WMT) Flipkart last year following an alleged preferential treatment complaint from a trader group. The investigation was put on hold following a court challenge from the two companies.
  • Last month, Reuters’ story based on internal Amazon documents dated between 2012 and 2019 alleged Amazon’s preferential treatment to a small seller group triggered India’s Enforcement Directorate inquiry into the company.
  • 35 of Amazon’s over 400,000 Indian sellers in early 2019 accounted for roughly two-thirds of its online sales based on the report. The report also reflected Amazon’s nexus in expanding an indirectly owned seller Cloudtail on its platform.
  • Amazon refuted the allegations.
  • CCI might seek documents from the company for examination as per a representative.
  • Price action: AMZN shares traded higher by 1.01% at $3,058.69 on the last check Friday.
 

Related Articles (AMZN)

View Comments and Join the Discussion!

Posted-In: ReutersNews Tech Media

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com