EU to hit Apple with $540 million fine over music streaming – FT (NASDAQ:AAPL)

Apple (NASDAQ:AAPL) is due to be fined by the European Union over access to its App Store for music streaming, the Financial Times reported Sunday.

Brussels is set to fine Apple (AAPL) 500M euros ($540M) in early March, alleging that the company’s App Store blocked apps from other companies letting them know of cheaper music streaming alternative, the FT said, citing people with direction knowledge of the investigation that has been running since 2019.

Spotify (SPOT) made the formal complaint.

The European Commission will say that Apple’s (AAPL) actions are illegal and go against the bloc’s competition rules, the FT said.