ROME (Reuters) -An Italian administrative court has reduced a 1.13-billion-euro ($1.32 billion) fine imposed on Amazon in 2021 by Italy's competition authority for alleged abuse of a dominant position
Italian Court Reduces Amazon's 1.1 Billion Euro Antitrust Penalty
Overview of the Court Ruling
ROME (Reuters) -An Italian administrative court has reduced a 1.13-billion-euro ($1.32 billion) fine imposed on Amazon in 2021 by Italy's competition authority for alleged abuse of a dominant position, a ruling showed on Tuesday.
Details of the Fine Reduction
The Lazio administrative court upheld the main findings by the regulator, but said the amount of the fine had to be recalculated, arguing that the watchdog had not adequately explained the reasons for including a discretionary 50% increase.
Background on Amazon's Penalty
The ruling did not specify the revised figure.
Deducting the 50% surcharge from the original 1.13 billion euros would result in a final fine of around 750 million euros, according to Reuters calculations.
Amazon had no immediate comment on the ruling.
The company was originally fined for restricting competition in e-commerce logistics services in Italy. At the time, it was one of the biggest penalties imposed on a U.S. tech giant in Europe.
($1 = 0.8542 euros)
(Reporting by Giulia Segreti, editing by Alvise Armellini and Susan Fenton)
