INSUBCONTINENT EXCLUSIVE:
The authority imposed a fine of 68.7 million euros on Amazon.Milan: Italy's antitrust authority has fined United States tech giants
Amazon.com and Apple Inc a total of more than 200 million euros ($225 million) for alleged anti-competitive cooperation in the sale of Apple
and Beats products.Contractual provisions of a 2018 agreement between the companies meant only selected resellers were allowed to sell Apple
and Beats products on Amazon.it, the competition watchdog said, adding that this was in violation of European Union rules.The authority
imposed a fine of 68.7 million euros on Amazon and 134.5 million euros on Apple, ordering the companies to end the restrictions to give
retailers of genuine Apple and Beats products access to Amazon.it in a non-discriminatory manner.Apple denied any wrongdoing and said it
plans to appeal against the fine."To ensure our customers purchase genuine products, we work closely with our reseller partners and have
dedicated teams of experts around the world who work with law enforcement, customs and merchants to ensure only genuine Apple products are
being sold," it said.An Amazon representative could not be reached for immediate comment.(This story has not been edited by
TheIndianSubcontinent staff and is auto-generated from a syndicated feed.)
