German antitrust agency issued a 358 million euro fine this year, Facebook Amazon investigated

The German Federal Antitrust Agency (Federal Cartel Office) released its annual antitrust report on the 29th, showing that the agency issued a total of about 358 million euros in fines for antitrust cases this year. Director of the Bureau Andreas Monte said that the digital economy is the focus of the agency’s work in 2020. And Facebook Amazon Investigate.

The German Federal Anti-Monopoly Agency in Bonn, Germany is the anti-monopoly regulatory agency at the German federal level.

The report released on the same day showed that in 2020, the German Federal Antimonopoly Service imposed a fine of about 358 million euros on 19 companies and 24 natural persons, involving industries including pesticides, automobile license plates, and aluminum forging.

Andreas Monte said on the same day that antitrust in the field of the digital economy always holds the highest priority in the work of the German Federal Antitrust Agency. He said that the agency is currently investigating Amazon’s alleged practice of restricting sellers’ free pricing rights on its platform, as well as the possible damage Amazon may cause to sellers through cooperation with brand manufacturers.

In response to the investigation involving Facebook, Andreas Monte said that in 2021, the agency hopes to put an end to its investigation on Facebook launched in 2019. The content of the investigation involves Facebook’s information obtained from different channels. Data is integrated. The agency is also investigating how Facebook bundled its social platforms with its virtual reality products.

Andreas Monte said that Germany’s “Anti-Restriction of Competition Act” is expected to usher in major amendments in the near future, allowing antitrust agencies to more effectively prevent large digital platforms from abusing their market position.

(Via)