The EU just launched a formal antitrust probe into Amazon

Margrethe Vestager

The EU is cracking down on Amazon.

On Wednesday, the European Commission announced that it will launch a formal investigation into Amazon. Reports of this investigation first surfaced on Tuesday.Advertisement

Competition Commissioner Margrethe Vestager, who is leading the investigation, said in a statement on Wednesday that she will be taking a "very close look" at Amazon's "dual role."

"We need to ensure that large online platforms don't eliminate these benefits through anti-competitive behaviour," she said. "I have therefore decided to take a very close look at Amazon's business practices and its dual role as marketplace and retailer, to assess its compliance with EU competition rules."

More follows.