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Italy’s antitrust fines Amazon, Apple more than 200 million euros for alleged collusion -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – An Apple logo in a Paris Apple Store, France September 17th 2021. REUTERS/Gonzalo Fuentes/File Photo

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MILAN, Reuters – The Italian antitrust agency has issued a fine of 200 million euros (£225 million) to two U.S. technology giants Amazon.com and Apple Inc for allegedly cooperating in anticompetitive sales practices of Beats and Apple.

According to the authority, Tuesday’s statement stated “contractual terms of an Oct. 31 2018 agreement prohibited official and unofficial resellers Apple and Beats products using Amazon.it. This allowed only Amazon.it and selected other parties to make discriminatory sales of these products on that market.”

It was ruled that the action violated EU competition rules. The Italian Competition Watchdog imposed a penalty of 68.7M euros on Amazon, and 134.5M euros on Apple. They ordered the companies to end the restrictions.

Amazon and Apple were unable to reach them immediately for comments.

($1 = 0.8885 euros)

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