Amazon Is Hit With Antitrust Charges by the European Union .
On Tuesday, Margrethe Vestager, the European Commision's top antitrust official, .
Accused Amazon of illegal practices in Germany and France.
In July 2019, the European Commission opened a formal investigation into Amazon.
According to Vestager, it found that Amazon feeds non-public seller data into its own retail algorithms. Vestager added that this practice allows the retail giant to cap third-party sellers' "ability to grow.".
We do not take issue with the success of Amazon or its size, our concern is the very specific business conduct that appears to distort competition, Margrethe Vestager, the European Commision's top antitrust official, via CNN Business.
The investigation must be completed before Amazon is forced to pay any penalties.
This could go on for years, leaving Amazon vulnerable to potential fines of up to 10% of its annual global sales.
EU antitrust authorities have also launched a second investigation.
Our concern is that Amazon may artificially push retailers to use its own related services, which locks them deeper into Amazon's ecosystem, Margrethe Vestager, the European Commision's top antitrust official, via CNN Business