The Commission concluded that Apple faces several competitors in the (European Economic Area) such as Spotify and Deezer, making it implausible that the acquisition of a smaller streaming service that is not active in the EEA would lead to anticompetitive effects," it said. "The Commission also concluded that the transaction would not give Apple the ability and incentive to shut out competing streaming services from access to iOS, Apple's operating system for mobile devices.
First announced in May, the $3 billion acquisition of the music streaming and audio equipment company, would be Apple’s largest to date. Apple is buying Beats at the purchase price of approximately $2.6 billion, with approximately $400 million vested over time. As part of the deal, Beats co-founders Jimmy Iovine and Dr. Dre will join the company in executive roles.
In June, representatives from the European Union had indicated that a decision would come before July 30.
Subject to U.S. regulatory approvals, Apple has said it expects the transaction to close in fiscal Q4.
See also: Bose files suit against Apple-owned Beats over noise-canceling headphone patents, Apple is reportedly ready to cut ties with long-time ad partner TBWA, and Apple Is Working On Home Products That Are More Than Fancy Smoke Detectors.