07:08 AM EDT, 05/13/2024 (MT Newswires) -- The European Commission is reportedly set to issue antitrust charges against Microsoft ( MSFT ) over concerns that it is undermining rivals to its videoconferencing app Teams, The Financial Times reported, citing three people familiar with knowledge of the regulatory action.

In late July last year, the Commission said in a statement it had launched a formal investigation to assess whether Microsoft ( MSFT ) may have violated the EU competition rules by tying or bundling Teams to its Office 365 and Microsoft ( MSFT ) 365 software.

The sources said the European Union's regulatory officials are not convinced that Microsoft's ( MSFT ) recent concessions, including the extension of the plan to unlink Teams from other software, were enough to facilitate fair competition in the sector.

If found to have violated the bloc's competition law, Microsoft ( MSFT ) may be fined up to 10% of its global annual turnover.

Microsoft ( MSFT ) didn't immediately respond to requests for comment from MT Newswires

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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