European consumer group joins EU antitrust case against Apple
Reuters
Published Jun 02, 2021 10:52AM ET
Updated Jun 02, 2021 01:26PM ET
By Foo Yun Chee
BRUSSELS (Reuters) - The European Consumer Organisation (BEUC) lobby group on Wednesday backed the European Union's antitrust case against Apple (NASDAQ:AAPL) which alleges it distorts competition in the music streaming market.
The European Commission filed its first antitrust charges against Apple in April following an initial complaint by the iPhone maker's rival Spotify (NYSE:SPOT).
Apple has rejected the EU charges, saying that its App Store enabled Spotify to become the world's largest music subscription service. It has been given 12 weeks to respond to the charges.
BEUC said it has been allowed to join as an interested third party in the antitrust regulator's case, which could lead to a hefty fine of as much as 10% of Apple's global turnover and force a change to its business practices.
"We look forward to working with the Commission to ensure that Europe's consumers have access to a full range of music streaming services without their choices being unfairly restricted or prices being artificially inflated," BEUC Director General Monique Goyens said in a statement.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.