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Apple’s Shazam Acquisition Will Face European Regulatory Probe

European regulators have confirmed that they’re working on plans to probe Apple’s acquisition of music app Shazam before the Deal is finalised.

According to a report from British newspaper The Telegraph, officials from the Europe Union are to assess the ongoing deal for potential discrepancies.

Seven European countries have called for a regulatory review of the deal. They include Austria, France, Italy, Iceland, Norway, Spain and Sweden.

The European Commission explained these countries had asked for an investigation into the deal. They believe that the deal could pose a threat to competition.

In these situations, the regulator has two options: it can approve the bid or open a full-scale investigation. And because Shazam is based in the UK, the European Commission can investigate the deal legally.

In a statement, it said: “On the basis of the elements submitted by Austria and the countries joining the referral request, and without prejudice to the outcome of its full investigation, the Commission considers that the transaction may have a significant adverse effect on competition in the European Economic Area,” it said.

“The Commission has also concluded that it is the best placed authority to deal with the potential cross-border effects of the transaction.”

Last year, Apple announced plans to buy the music service for $400 million. Although Apple hasn’t detailed what it plans to do with Shazam, it said the companies are a “natural fit”. Many people, however, suspect that the deal is Apple’s way of competing with Spotify.

In a statement, the tech diant commented: “Since the launch of the App Store, Shazam has consistently ranked as one of the most popular apps for iOS. Today, it’s used by hundreds of millions of people around the world, across multiple platforms.” “We are thrilled that Shazam and its talented team will be joining Apple.”

This post first appeared on IDrop News - IPhone, IOS, Apple Rumors, News, Tips, Tricks, Reviews, & Deals, please read the originial post: here

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Apple’s Shazam Acquisition Will Face European Regulatory Probe


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