Jan 11, 2024
IRobot shares plunge 19% on report Amazon won’t offer concessions to resolve EU probe
Posted by Kelvin Dafiaghor in category: futurism
Shares of Amazon closed up 1.5% on Wednesday.
Last November, the European Commission warned the planned acquisition raises competition concerns, saying it found Amazon may have the ability to prevent or degrade iRobot rivals’ access to its online site by delisting or reducing the visibility of their products in search results and other areas.
The European Commission opened an in-depth probe into the purchase last July and is expected to rule on the deal by Feb. 14.