iRobot shares plunge 17% after EU warns Amazon deal ‘may restrict competition’
Publishing timestamp: 2023-11-27 16:50:32
Summary
iRobot shares plunged after the European Commission warned that Amazon's planned acquisition of iRobot raises competition concerns. The commission found that Amazon may have the ability to restrict competition in the market for robot vacuum cleaners by delisting or reducing visibility of iRobot rivals' products on its online site. The deal is also under review by the U.S. Federal Trade Commission.
Sentiment: NEGATIVE
Keywords: irobot corp, technology, internet, breaking news: technology, amazon.com inc, business news,