Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

The European Union antitrust officials attacked companies such as Samsung Electronics Co., Royal Philips NV and Metro AGs Media-Saturn, because they suspected them in online-sales restrictions. These companies were believed to have “put in place restrictions on online sales of consumer-electronic products and small domestic appliances”, considering the fact that clauses such as these ones may lead to increasing the consumer prices of products or stop some online sales.

Last Friday on a conference in Brussels, Andreas Mundt, who is the head of Germanys Cartel Office said this would have definitely be a new era of enforcement as far as the EU commission is concerned, because the commission had never dealt with such cases.

Mr. Mundt also explained that the EU was acquainted with similar probes in Germany and in the U.K., but the so-called vertical restrained of prices or supplies restrictions had rarely been surveyed until now. None details on the EU raids were given on the Brussels conference. The EU commission really has quite modest experience when it comes to such restrictions. In 2009 the EU examined online sales and proposed some rules that gave luxury-goods makes the opportunity of setting some limits on online resellers such as EBay Inc., for example.

Last month the investigations of Amazon.com Inc.s sales restrictions were dropped by the U.K. and German regulators after the website removed the ban on retailers, who were using it in order to buy some products they sold afterwards at higher prices on other platforms. It turned out that the practice of different pricing for online and offline goods is considered widespread by regulators, as explained by Mr. Mundt. He, however, reassured people that the regulators were ready to examine any case of violation of online retailers best-price guarantees.

Last Thursday Antoine Colombani – one of the spokesmen of the regulator based in Brussels announced that on December the 3rd companies in several countries in Europe were visited by EU antitrust officials. For example, this week Philips was visited by EU officials, as well as some other companies that have the reputation of being leaders on the market worldwide.

Media-Saturn was also among the companies visited on December the 3rd, which made it officially announce that the group is fully cooperating with the EU regulators. The largest technology company in Asia – Samsung is also determined to assist and support the actions of the European Commission, but refused to comment and give any more details for now.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Gold and silver trading outlook: futures steady ahead of ECB interest rate decision tomorrow, US dataGold and silver trading outlook: futures steady ahead of ECB interest rate decision tomorrow, US data Gold and silver futures traded slightly higher during early hours in Europe today, after logging insignificant gains the previous session. Investors are now awaiting a crucial ECB interest rate decision due tomorrow, and key US data on […]
  • USD/CHF trades little changed after the ZEW reportUSD/CHF trades little changed after the ZEW report USD/CHF traded little changed after the release of the ZEW index by the Centre for European Economic Research.The pair reached a session high at 0.9118 at 9:55 GMT, after which consolidation followed at 0.9111, ticking up 0.01% on a daily […]
  • Forex Market: EUR/SEK daily forecastForex Market: EUR/SEK daily forecast During yesterday’s trading session EUR/SEK traded within the range of 9.1065-9.1380 and closed at 9.1194.At 6:19 GMT today EUR/SEK was losing 0.01% for the day to trade at 9.1206. The pair touched a daily low at 9.1104 at 6:05 […]
  • Forex Market: USD/ZAR daily trading forecastForex Market: USD/ZAR daily trading forecast Yesterday’s trade saw USD/ZAR within the range of 10.9292-10.9884. The pair closed at 10.9542, gaining 0.13% on a daily basis.At 9:26 GMT today USD/ZAR was up 0.66% for the day to trade at 11.0341. The pair broke the first and the second […]
  • Grains trading outlook: wheat adds on worsening crop conditions, soybeans on growing exportsGrains trading outlook: wheat adds on worsening crop conditions, soybeans on growing exports Grain futures traded higher during early trading in Europe today. Wheat advanced on reported worsening crop conditions in the US. Soybeans exports recorded a sizable growth, supporting the contract. Weather conditions will be generally good […]
  • Forex Market: GBP/USD daily forecastForex Market: GBP/USD daily forecast During yesterday’s trading session GBP/USD traded within the range of 1.6822-1.6884 and closed at 1.6853, losing 0.15% on a daily basis.At 7:49 GMT today GBP/USD was losing 0.09% for the day to trade at 1.6840. The pair touched a daily low […]