Germany investigating Temu on price-fixing suspicions

AI Summary
Germany's Federal Cartel Office has launched an investigation into Temu, a Chinese discount online retail site, suspecting it of influencing retailers' prices and setting unacceptable conditions for traders on its platform. The investigation targets Whaleco Technology Limited (Temu), based in Dublin, Ireland. With over 100 million monthly users from European marketplaces visiting temu.com, the German watchdog is concerned that Temu's practices could threaten competition and lead to price increases elsewhere. In Germany alone, Temu has an estimated 19.3 million active users. The investigation follows a July European Commission probe into Temu for allegedly failing to prevent illegal product sales on its platform.
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