German antitrust regulator set to probe Apple on tracking rules
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Germany's antirust regulator said on Wednesday that it had decided Apple (NASDAQ:AAPL) is of "paramount significance" given its size and scope, paving the way for a potential probe into the tech giant.
The Bundeskartellamt said that under Section 19a of the German Competition Act, or GWB, Apple (AAPL) has an "economic position of power" across various markets "which gives rise to a scope of action that is not sufficiently controlled by competition."
The Bundeskartellamt added that it is looking into Apple's (AAPL) tracking rules and its App Tracking Transparency Framework on the basis that the rules could favor Apple's own products and negatively impact other companies.
In a statement, Bundeskartellamt President Andreas Mundt, said the U.S. tech giant, which is valued at some $2.4T, operates in a market that has a "a high significance for competition" not just in Germany, but throughout Europe.
"With its proprietary products iOS and the App Store, Apple holds a key position for competition as well as for gaining access to the ecosystem and Apple customers," Mundt added. "This decision enables us to specifically take action against and effectively prohibit anti-competitive practices.â
Cupertino, California-based Apple (AAPL) did not immediately respond to a request for comment from Seeking Alpha.
Last week, the Bundeskartellamt said it was looking into whether Microsoft should be labeled as "paramount significance for competition across markets."
Apple (AAPL) shares fell fractionally in premarket trading.
On Tuesday it was reported that Apple (AAPL) had let go some members of its corporate retail staff as the company embarks on what it is believed to be the company's first job cuts since the economic malaise began last year.