11:26 AM EDT, 07/19/2024 (MT Newswires) -- Microsoft ( MSFT ) and OVHcloud of France reached an accord on cloud use, hearing off a antitrust complaint to European Union regulators against the US technology giant, Politico reported Thursday, citing two people with knowledge of the negotiations.

OVHcloud users can use Microsoft ( MSFT ) solutions on their preferred cloud platform more easily under the agreement, the report said.

OVHcloud had alleged that Microsoft ( MSFT ) practices boosted cost and complicated software use on rival infrastructures, the report said.

"We are glad we reached this settlement and addressed OVH's concerns," Microsoft ( MSFT ) said, according to the report.

"Although this agreement leads to concrete progress for the entire European cloud ecosystem, there is a crucial need for further action to effectively put an end to all anticompetitive practices implemented by hyperscalers in the EU cloud market, OVHcloud said, according to Politico.

Microsoft ( MSFT ) and OVHcloud didn't 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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