Morgans AM: Tuesday, 20 February 2024

The Financial Times (FT) and Bloomberg News reported Sunday (18 February) that European Commission antitrust regulators are preparing to impose an ~ €500M fine against Apple, after finding that it created an anticompetitive environment by failing to inform iPhone users that cheaper, alternative music-streaming apps were available outside its App Store. The investigation was sparked by a complaint that Spotify SA filed in 2019. The FT reported the fine is expected to be announced in early March.