09:05 AM EDT, 05/21/2024 (MT Newswires) -- (Updates with the European Commission's response in the fifth paragraph.)

Apple ( AAPL ) is challenging a 1.8 billion euro ($1.95 billion) fine from the European Union for allegedly hampering competition from rival music streamers, Bloomberg reported Tuesday, citing people familiar with the matter.

Apple ( AAPL ) filed a lawsuit at the EU General Court to overturn the decision, according to the report.

The investigation by the EU followed a complaint in 2019 from music-streaming company Spotify Technology ( SPOT ) , claiming it was forced to raise the price of its monthly subscription to cover the costs of Apple's ( AAPL ) App Store.

Apple ( AAPL ) and Spotify ( SPOT ) did not immediately respond to MT Newswires' requests for comment.

The European Commission said it did not have any specific comment but generally "stands ready to defend all its decisions in Court."

(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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