Amazon and E.U. Reach Deal

On Tuesday, the European Commision announced that Amazon and the European Union have reached a deal. According to the NY Times, Amazon has “agreed to give merchants operating in the European Union more access to valuable real estate on its website,” and the deal ends “antitrust investigations by regulators who said the company had used its size and power to stifle competition in the bloc.”

It has been reported that the deal, or settlement, will help Amazon “avoid what could have been a multibillion-dollar fine,” as well as give the “European Commission, or the European Union’s executive branch, a victory in delivering long-sought changes to the world’s dominant online shopping platform.” The settlement will reportedly last for five years, and only applies to EU Amazon operations.