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Apple faces a ban on App Store rules governing some music streaming services and potentially steep fines from European Union regulators, Bloomberg News reported on Wednesday.
The report said EU authorities are finalizing a decision to ban Apple from blocking music services and forcing users from the App Store to other subscription options, the report said, citing people familiar with the investigation. Reported.
The decision is expected early next year, and Apple could be fined up to 10% of its annual revenue, Bloomberg reported.
The investigation was sparked by a complaint about four years ago from Sweden’s Spotify Technology, which claimed it was forced to raise monthly subscription prices to cover costs related to Apple’s App Store rules.
The European Commission filed a complaint against Apple earlier this year, saying the condition was unnecessary and could mean customers ended up paying more.
Apple did not respond to Reuters’ request for comment. A European Commission spokesperson declined to comment.
Apple shares rose slightly in afternoon trading.
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