Apple Inc. will lower its prices for music through its British iTunes site within six months, the European Union said Wednesday.
Cupertino-based Apple (NASDAQ:AAPL) has been under investigation by EU authorities since the middle of last year, when a U.K.-based consumer group complained the company unfairly restricted choice and price of downloads.
Apple stock rose on the news, closing the day at $179.40, up 4.76 percent.
The EU also said there was no proof that other record companies had special agreements with Apple that caused it to fragment online music sales throughout Europe, but rather the fragmented structure reflected copyright laws specific to individual countries.
The EU commission had brought antitrust charges against Apple and some record companies over different prices charged for the same downloads in different EU countries.
http://www.bizjournals.com/sanjose/stories/2008/01/07/daily44.html
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