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Italian court scraps antitrust fine on Apple and Amazon

Published 10/03/2022, 08:14 AM
Updated 10/03/2022, 08:46 AM
© Reuters. FILE PHOTO: The Apple logo is seen at an Apple Store in Brooklyn, New York, U.S. October 23, 2020.  REUTERS/Brendan McDermid/File Photo
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ROME (Reuters) - An Italian administrative court scrapped a fine imposed by the country's antitrust authority on U.S. tech giants Apple (NASDAQ:AAPL) and Amazon (NASDAQ:AMZN) for alleged collusion, a document showed on Monday.

The antitrust authority had fined both companies a total of more than 200 million euros ($195.3 million) in 2021, citing alleged anti-competitive cooperation in the sale of Apple and Beats products.

Earlier this year, the fine was reduced to an overall 173.3 million euros due to a "material error" in the first calculation.

Amazon said in a statement it welcomed the court's decision.

The antitrust authority declined to comment, while Apple had no immediate comment.

© Reuters. FILE PHOTO: The Apple logo is seen at an Apple Store in Brooklyn, New York, U.S. October 23, 2020.  REUTERS/Brendan McDermid/File Photo

($1 = 1.0242 euros)

(This story refiles to remove superfluous word, no changes to text)

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