Amazon close to e-book settlement with EU regulators

Amazon close to e-book settlement with EU regulators

Amazon said concerns the major retailer had harmed competition were "simply wrong" | Matt Cardy/Getty Images

Amazon close to e-book settlement with EU regulators

Company drops controversial contractual clauses to strike settlement with Commission.

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Amazon has struck a settlement with the European Commission, offering to drop controversial contractual clauses to end a 18-month probe into its e-book business and escape possible sanctions.

Europe’s top antitrust regulator went public with the deal on Tuesday, asking the company’s rivals, customers and other stakeholders whether the changes would resolve concerns that Amazon was stifling competition in the fast-growing sector.

If satisfied with the responses, the Commission will make the commitments binding on the online retailer.

Amazon said it welcomed the agreement with the Commission, but said the Commission’s concerns the major retailer had harmed competition were “simply wrong.”

The probe honed in on clauses that allegedly limited the ability of publishers to offer better terms to Amazon’s competitors, including conditions like e-book release dates and commissions.

They also allegedly restricted publishers’ ability to explore alternative business models with other e-book publishers.

Amazon has offered to waive the clauses in question and remove them from future deals for five years.

Authors:
Nicholas Hirst