You don't have to pay a fine of more than 40 billion dollars, Amazon settles three major EU antitrust investigations.

Beijing, Dec. 21 (Xinhua) e-commerce giant Amazon reached a settlement with the European Union on Tuesday over three antitrust investigations. The company had previously addressed EU concerns about its use of seller data, avoiding a fine of up to 10 per cent of its annual global turnover. Amazon's 10% fine will be as high as $46.98 billion (327.1 billion yuan) with revenue of $469.8 billion in 2021.

In the first case, Amazon was accused of using its size, dominance and data to promote its products to gain an unfair advantage over competitors who also use its platform. Now the company has agreed not to use sellers' data for its competitive retail business and private-label products.

The second case concerns whether Amazon treats every seller equally in ranking the price of "buy box" for sellers on its website, which accounts for the bulk of Amazon's sales. Amazon has agreed to set up a second berth in a conspicuous position if its competitor's products are very different from those in the first bunk in terms of price and delivery. In the third case, Amazon agreed that sellers of Prime services could choose their own logistics and distribution services, rather than those approved and selected by Amazon.

Amazon said it was pleased to address the Commission's concerns. "while we still do not agree with a number of preliminary conclusions made by the European Commission, we have been constructively involved to ensure that we can continue to serve customers across Europe." A spokesman for the company said.