Apple, Amazon Get $209 Million Fines Suspended By Spanish High Court

(CTN News) – Amazon (AMZN.O), opens new tab and Apple (AAPL.O), opens new tab fines imposed by the local antitrust watchdog in July have been suspended by Spain’s high court, pending an appeal by the tech giants.

Due to a collusion between Amazon and Apple, CNMC fined the two companies for preventing other merchants from being able to sell products on Amazon’s website in Spain due to a collusion between the two companies.

In a previous announcement, Apple said that it would appeal the fine of 143.6 million euros and Amazon said that it would appeal the fine of 50.5 million euros.

The court’s decision to suspend the payment is part of the appeal process, according to an Amazon spokesperson.

As a result of the deal with Apple, Amazon said in July that the number of discounts on devices on its website had increased, while claimed the agreement was intended to protect customers from counterfeit products.

It is not anticipated that the court will rule in favor of the tech giants or against them after the suspension of the fine has been lifted.

A spokesperson for Apple declined to comment on Thursday.

The two companies signed a contract in October 2018 granting Amazon the status of an authorized Apple dealer for its websites in Spain. The contract contained anti-competitive clauses that prevented more than 90% of existing retailers from selling products on Amazon.

In addition to limiting retailers in the European Union based outside Spain’s ability to access Spanish customers following these contracts, Amazon also restricted what advertising competitors could place on its website when users searched for Apple products, according to the regulator.

In Italy, similar proceedings were initiated against the two companies, but they were eventually dismissed.

The exchange rate of $1 is 0.9275 euros

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