Benzinga | Dec 9, 2021 09:44PM EST

Italy Antitrust Watchdog Slaps Record Fine On Amazon

Italy's antitrust regulator has penalized Amazon.com Inc (NASDAQ:AMZN) (euro)1.13 billion ($1.28 billion) for alleged market dominance.

* Amazon had allegedly harmed competing operators in the e-commerce logistics service.

* "Amazon holds a dominant position in the Italian market for intermediation services on marketplaces, which Amazon leveraged to favour the adoption of its own logistics service - Fulfilment by Amazon (FBA) - by sellers active on Amazon.it to the detriment of the logistics services offered by competing operators, as well as to strengthen its own dominant position," it added.

* The regulator would impose on Amazon corrective steps subject to review by a monitoring trustee.

* Related Content: Amazon Seeks To Drum Up Support From Its Sellers To Fight US Antitrust Bills

* Price Action: AMZN shares traded lower by 0.43% at $3,508 in the premarket session on the last check Thursday.