Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Apple, Meta, Alphabet face EU probe under digital markets law

(Sharecast News) - The European Union said it had started investigations into Google owner Alphabet, Apple and Meta over potentially uncompetitive practices. The trio are being probed for possible breaches of the EU's Digital Markets Act (DMA) and come three weeks after the bloc fined Apple €1.8bn (£1.5bn) for breaking competition laws over music streaming.

EU antitrust boss Margrethe Vestager and industry head Thierry Breton announced the ned investigations on Monday.

Apple also faces a major lawsuit in the US after the government accused it of monopolising the smartphone market.

The first two probes focus on Alphabet and Apple and relate to "anti-steering rules" where firms are not allowed to block businesses from telling their users about cheaper options for their products or about subscriptions outside of an app store.

"The way that Apple and Alphabet's implemented the DMA rules on anti-steering seems to be at odds with the letter of the law. Apple and Alphabet will still charge various recurring fees, and still limit steering," EU competition chief Margrethe Vestager told reporters.

Reporting by Frank Prenesti for Shrecast.com

Share this article

Related Sharecast Articles

Thor posts strong first half, lowers full-year production guidance
(Sharecast News) - Gold explorers and miner Thor Explorations reported a solid first-half performance on Friday, although it lowered its full-year production guidance.
Trinity delays publication of scheme document for its takeover
(Sharecast News) - Trinity Exploration & Production announced a delay in the publication of the scheme document related to its recommended cash acquisition by Lease Operators on Friday.
Celadon confident in seeing through funding challenges
(Sharecast News) - Cannabis-based medicines specialist Celadon Pharmaceuticals updated the market on its financial position on Friday, amid ongoing challenges related to delays in expected funding.
Sound Energy inks bridge finance deal ahead of SEME sale completion
(Sharecast News) - Sound Energy has entered into a bridge financing facility agreement for up to £1.5m, it announced on Friday.

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.