EU hits Apple with music streaming charge in boost for Spotify
- 3 years ago
EU regulators accused Apple (AAPL.O) on Friday of distorting competition in the music streaming market, siding with Spotify (SPOT.N) in a case that could lead to a hefty fine and changes in the iPhone maker’s lucrative business practices.
The preliminary findings are the first time Brussels has levelled anti-competitive charges against Apple, although the two sides have had bruising clashes in the past, most notably a multibillion-dollar tax dispute involving Ireland.
Apple, Spotify and other parties can now respond. If the case is pursued, the EU could demand concessions and potentially impose a fine of up to 10% of Apple's global turnover - as much as $27 billion, although it rarely levies the maximum penalty.
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