© Reuters. FILE PHOTO: An Apple brand is pictured in an Apple retailer in Paris, France September 17, 2021. REUTERS/Gonzalo Fuentes/File Photo
2/2
MILAN (Reuters) – Italy’s antitrust authority has fined U.S. tech giants Amazon.com (NASDAQ:) and Apple Inc (NASDAQ:) a complete of more than 200 million euros ($225 million) for allegedly participating in anti-competitive cooperation within the sale of Apple and Beats merchandise.
The authority stated in an announcement on Tuesday “contractual provisions of an agreement entered into on Oct. 31, 2018 barred official and unofficial resellers of Apple and Beats products from using Amazon.it, allowing the sale of those products in that marketplace only to Amazon and to selected parties in a discriminatory manner”.
The Italian competitors watchdog stated the transfer violated EU guidelines and imposed a wonderful of 68.7 million euros on Amazon and a wonderful of 134.5 million euros on Apple, ordering the businesses to place an finish to the restrictions.
Amazon and Apple couldn’t be instantly reached for a remark.
($1 = 0.8885 euros)
Fusion Media or anybody concerned with Fusion Media won’t settle for any legal responsibility for loss or harm because of reliance on the knowledge together with knowledge, quotes, charts and purchase/promote indicators contained inside this web site. Please be absolutely knowledgeable concerning the dangers and prices related to buying and selling the monetary markets, it is likely one of the riskiest funding kinds potential.
