Apple In Trouble As Spotify Chief Canvasses EU To Heighten Regulatory Action Against The iPhone Maker

  • Spotify Technology S.A. SPOT founder Daniel Ek exploited a rare visit to Brussels to apply personal pressure on the European Commission to accelerate the case against Apple Inc's AAPL practices, the Financial Times reports.
  • Daniel Ek reportedly spoke with competition commissioner Margrethe Vestager regarding Apple's "anti-competitive conduct," citing other regulators' harsh actions, including in Japan, the Netherlands, and South Korea.
  • Also Read: Apple In Legal Crosshairs Yet Again Over App Store Fees — This Time From French App Developers
  • Ek said he hoped his visit would speed the probe against Apple, which has taken almost four years.
  • Spotify complained against Apple to the European regulators in 2019, claiming Apple was taking a 30% commission for featuring it in the App Store and denying other upgrading options. The commission has formally charged Apple this year.
  • Companies often complain that antitrust probes against Big Techs achieve too little and come too late for industry competition to benefit from any action. 
  • According to Senator Amy Klobuchar, an "incredible onslaught of money" against a landmark antitrust bill to check the power of the U.S. Big Tech companies hindered the passing of the legislation.
  • The U.S. slapped a class-action antitrust lawsuit against Apple for illegally profiting from payment card issuers through its Apple Pay policies.
  • Price Action: SPOT shares closed at $105.86 on Wednesday.
  • Photo by Photo Mix from Pixabay
Market News and Data brought to you by Benzinga APIs
Posted In: GovernmentNewsRegulationsTechMediaBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!