Apple Aktie
WKN: 865985 / ISIN: US0378331005
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25.11.2024 15:20:51
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Indian Regulator Denies Apple's Request To Pause Antitrust Report
(RTTNews) - Apple Inc.'s request to put on hold an investigation report that found the tech major breaching competition laws has been denied by the Indian antitrust regulator, Reuters reported citing an internal order.
The Competition Commission of India or CCI has turned down the request, following which the case on Apple's app store practices on its iOS operating system will continue.
In August, the CCI had ordered a rare recall of two investigation reports that detailed alleged breaches of competition law by Apple. This was after the company complained that the regulator had disclosed commercial secrets to competitors including Tinder-owner Match Group, in the case dating back to 2021.
The case was centered around Apple's alleged abuse of its dominant position in the apps market to force developers to use its proprietary in-app purchase system, at a fee of up to 30 percent. The company, however, denied all wrongdoing.
The CCI then had asked parties to return the reports and destroy any copies, and then issued new reports.
As per the CCI's latest internal order, Apple in November alleged that Indian non-profit Together We Fight Society or TWFS, the main complainant in the antitrust investigation, had not complied with the directives to give an assurance that the old investigation reports had been destroyed.
The CCI order, dated November 13, shows that Apple asked the CCI to take action against TWFS for non-compliance with its order and to withhold the revised report.
However, the CCI in the order said, "Apple's request to hold the investigation report in abeyance was deemed untenable."
The internal order also showed that Apple has been asked to submit its audited financial statements for fiscal years 2021-22, 2022-23 and 2023-24 under regulatory guidelines. The move reportedly aims to determine possible monetary penalties in the case.
The CCI will make a final ruling on the ongoing case, following the review of the investigation report by its senior officials.
Apple has already been subject to antitrust investigations and orders in Europe, Japan and Korea, and also faces various lawsuits.
In March, the European Commission had fined Apple over 1.8 billion euros for abusing its dominant position through its App Store on the market for the distribution of music streaming apps to iPhone and iPad users or iOS users.
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| 25.11.25 | Apple Overweight | JP Morgan Chase & Co. | |
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Aktien in diesem Artikel
| Apple Inc. | 240,30 | 0,31% |
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