In its battle with Spotify, Apple may face an EU antitrust order - Bloomberg News

According to Bloomberg News, Apple Inc. (AAPL.O) is set to face tough EU antitrust penalties targeting its App Store's operational regulations, which will mostly effect music-streaming services. These upcoming restrictions are expected to undo Apple's current policy, which prohibits music providers from encouraging users to alternative, potentially less expensive subscription arrangements. The EU's ruling, which is expected to be completed early next year, may also subject Apple to a significant financial penalty of up to 10% of its annual revenue.

The EU regulators' decisive action stems from a complaint filed nearly four years ago by Spotify Technology (SPOT.N). Spotify said that Apple's strict App Store requirements forced it to raise its subscription prices to compensate for the increased costs imposed by these limitations. Earlier this year, the European Commission accused Apple of adding needless terms that could result in higher prices for customers.

Apple and the European Commission had not reacted to Reuters' questions at the time of publication. Meanwhile, Apple's stock rose slightly in afternoon trading, demonstrating a solid market position in the face of these growing regulatory concerns.