European Union regulators to examine Apple buy of United Kingdom music discovery app Shazam

  • European Union regulators to examine Apple buy of United Kingdom music discovery app Shazam

European Union regulators to examine Apple buy of United Kingdom music discovery app Shazam

Apple Inc's takeover of music-identification service Shazam may threaten to adversely affect competition and should be reviewed by the European Commission, the regulator said. It was notified by Apple for regulatory clearance in Austria, where the transaction meets the national merger notification threshold. The Shazam app uses the microphone on a smartphone or computer to identify nearly any song playing nearby, then points users to places they can listen to it in future, such as Apple Music or Google's YouTube.

Austria submitted a referral request to the Commission pursuant to Article 22 (1) of the EU Merger Regulation.

The tech giant will need to formally ask for European Commission approval after Brussels revealed it would example the deal following requests from seven countries.

Pirc recommended shareholders also vote against a measure to amend non-employee director stock plans, which it said gave the administrator too much discretion to determine the term of awards.

The European Commission said Austria, France, Iceland, Italy, Norway, Spain and Sweden had submitted requests for the watchdog to assess the purchase. The EU regulator can either clear the bid with or without conditions or open a full-scale investigation if it has serious concerns.

Apple announced its acquisition of UK-based Shazam in December. However it seems that not everyone might be on board with the acquisition, such as the European Commission who announced that they will be taking a closer look at the deal to see if it meets "competition standards".

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