Spain’s competition watchdog hits Amazon and Apple with a 194 million euro fine

Follow us on Social Media

Social sharing
1000x563 cmsv2 48d6fa7e 09cc 50ab 8d13 f746d6a80ed2 7761092

The country’s regulator accused the two US tech giants of colluding in the sale of products.

Spain’s anti-trust watchdog announced on Tuesday that it has fined Amazon and Apple a total of €194 million for collusion in the sale of products which “restricted competition”, according to a statement by the regulator.

The watchdog, known as CNMC, found that in October 2018 the two US tech giants had agreed to limit the sale of Apple products on Amazon’s Spanish websites by third-party resellers, a move which “drastically” reduced competition.

“Over 90 per cent of resellers who used Amazon’s website in Spain to sell Apple products were excluded from Spain’s main online market”, the regulator stated. Only selected resellers chosen by Apple were allowed to sell the company’s products on Amazon.es, according to the Spanish competition watchdog.

While Amazon was fined €50.5 million, Apple was fined €143.6 million. The two companies now have two months to appeal the decision.

In an email statement to Reuters, a spokesperson for Amazon said: “We reject the suggestion made by CNMC that Amazon benefits from excluding sellers from its marketplace, as our business model hinges precisely on the success of the companies selling through Amazon.”

It’s not the first time the two companies have been hit with significant fines by European regulators for unfair competitive behaviour.

Last year, France fined Apple for €371.6 million, and in December 2021 Italy hit Amazon with a €1.1 billion fine for abusing its dominant market position.

Source

Leave your comment on this post

THE ROTTEN FISH: CAN OF WORMS OPENED OF APC & TINUBU'S GOVERNMENT OVER NIGERIA'S ECONOMIC DOWNTURN

WATCH THE CRITICAL ANALYSIS AND KNOW THE RESPONSIBLE PARTIES TO BLAME FOR NIGERIA'S ECONOMIC CHALLENGES, WHILE CITIZENS ENDURE SEVERE HARDSHIPS.

Watch this episode of ISSUES IN THE NEWS on 9News Nigeria featuring Peter Obi's Special Adviser, Dr Katch Ononuju, 9News Nigeria Publisher, Obinna Ejianya and Tinubu Support Group Leader, McHezekiah Eherechi

The economic crisis and hardship in Nigeria are parts of the discussion.


Watch, leave your comments, and share to create more awareness on this issue.


#9NewsNigeria #Nigeria #issuesInTheNews #politics #tinubu THE ROTTEN FISH: CAN OF WORMS OPENED ...
DON'T FORGET TO SUBSCRIBE AND LEAVE YOUR COMMENTS FOR SUBSEQUENT UPDATES
#9newsnigeria #economia #economy #nigeria #government @9newsng
www.9newsng.com

Leave your comment

Click on the link below or Scan the QR Code to join the 9News Nigeria WhatsApp Channel

9News Nigeria Investigative Reports WhatsApp Channel
9News Nigeria Investigative Reports WhatsApp Channel
About 9News Nigeria 13373 Articles
9News Nigeria is Nigeria's favourite news source. For Authentic, Unbiased News on Politics, Business, Sports, Technology, Entertainment and Lifestyles, Health, Nollywood, Crime and Investigations, Family and Relationships, Inspirations .. and much more. For Latest News from Africa and around the world, 9News Nigeria is your best source. WhatsApp +2348115805632 Email: info@9newsng.com Facebook: www.facebook.com/9NewsNG | Twitter/Instagram: @9newsng

Be the first to comment

Leave a Reply