Amazon could be forced to shed assets under House bill: report
House lawmakers are preparing to propose legislation that could require Amazon.com Inc. (AMZN) and other tech giants to effectively split into two companies or shed their private-label products, the Wall Street Journal reported Friday (https://www.wsj.com/articles/amazon-other-tech-giants-could-be-forced-to-shed-assets-under-house-bill-11623423248?mod=hp_lead_pos1), citing people familiar with the matter. The bill could be announced Friday, the Journal said. The proposal could force structural separation of Amazon and other big tech companies that Congress has spent 15 months investigating, according to the Journal. The report said a separate bill targets the ability of big tech companies to leverage their online platforms to favor their own products. Each bill has Democrats and Republicans signed on, the Journal said.
-Robert Schroeder; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
June 11, 2021 11:48 ET (15:48 GMT)
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