08:15 AM EDT, 07/16/2024 (MT Newswires) -- Alphabet's (GOOG) Google ( GOOG ) unit offered a non-profit trade association for European cloud providers 470 million euros ($512 million) to abandon its antitrust settlement with Microsoft ( MSFT ) , Bloomberg reported Tuesday.

Last week, Cloud Infrastructure Services Providers in Europe, or CISPE, agreed to drop an antitrust complaint against Microsoft ( MSFT ) over its software licensing processes. The deal requires Microsoft ( MSFT ) to resolve licensing issues or release a version of Azure Stack HCI for European cloud providers within nine months. It also establishes an independent European Cloud Observatory to monitor and evaluate the product.

But before the agreement was announced, Google ( GOOG ) offered CISPE 455 million euros worth of software licenses for Google's ( GOOG ) cloud technology over five years and 14 million euros in cash with the stipulation that it maintain its lawsuit against Microsoft ( MSFT ), Bloomberg reported, citing confidential documents and people familiar with the matter.

Google ( GOOG ), Microsoft ( MSFT ), and CISPE did not immediately respond to requests for comments 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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