UPDATE: EU Commission Launches 'Very Rigorous' Investigation into Microsoft (MSFT) Over Antitrust Sanctions
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Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 2.7%
EPS Growth %: +20.0%
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(Updated - July 17, 2012 8:18 AM EDT)
The European Union appears to not be done with Microsoft (Nasdaq: MSFT), yet.
According to reports out Tuesday, the EU's competition chief Joaquin Almunia launched a "very rigorous" investigation into whether or not Microsoft allowed users easy access to other web browsers. The investigation stems from whether or not Microsoft is following a sanction it entered into in 2009 following a long-running antitrust probe.
Almunia was ferocious in his remarks, saying that if the case were confirmed, he would use, "use all legal instruments with all the capacity to deter and to punish."
The maximum fine Microsoft could face would be 10 percent of its annual revenue, amounting to potentially hundreds of millions of euros.
UPDATE - According to Reuters, Microsoft said a "technical glitch" prevented offering users the choice of which browser they could use.
According to the statement: "Due to a technical error, we missed delivering the BCS (browser choice screen) software to PCs that came with the service pack 1 update to Windows 7."
Microsoft said it has taken immediate steps to remedy the situation and regrets the error.
With hundreds of millions in potential fines on the line, the situation hearkens a little to the movie (and real life situation) Apollo 13. In the movie, when stuff starts going wrong, Jim Lovell (Tom Hanks) asks Jack Swigert (Kevin Bacon) why a "No!" sign is taped to the instrument panel. Swigert used it as a safety measure, so he wouldn't disconnect LEM (part that goes to the moon) with the other two astronauts in it.
Seems like simple thinking, but a note with "Check to ensure users can pick a broswer before shipping out the next Windows 7 update. It will cost us a ton of money otherwise" written on it, ahered to the project manager's computer/desk, might have done a similar trick.
Following the announcement, Microsoft shares are indicated for a higher open.
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The European Union appears to not be done with Microsoft (Nasdaq: MSFT), yet.
According to reports out Tuesday, the EU's competition chief Joaquin Almunia launched a "very rigorous" investigation into whether or not Microsoft allowed users easy access to other web browsers. The investigation stems from whether or not Microsoft is following a sanction it entered into in 2009 following a long-running antitrust probe.
Almunia was ferocious in his remarks, saying that if the case were confirmed, he would use, "use all legal instruments with all the capacity to deter and to punish."
The maximum fine Microsoft could face would be 10 percent of its annual revenue, amounting to potentially hundreds of millions of euros.
UPDATE - According to Reuters, Microsoft said a "technical glitch" prevented offering users the choice of which browser they could use.
According to the statement: "Due to a technical error, we missed delivering the BCS (browser choice screen) software to PCs that came with the service pack 1 update to Windows 7."
Microsoft said it has taken immediate steps to remedy the situation and regrets the error.
With hundreds of millions in potential fines on the line, the situation hearkens a little to the movie (and real life situation) Apollo 13. In the movie, when stuff starts going wrong, Jim Lovell (Tom Hanks) asks Jack Swigert (Kevin Bacon) why a "No!" sign is taped to the instrument panel. Swigert used it as a safety measure, so he wouldn't disconnect LEM (part that goes to the moon) with the other two astronauts in it.
Seems like simple thinking, but a note with "Check to ensure users can pick a broswer before shipping out the next Windows 7 update. It will cost us a ton of money otherwise" written on it, ahered to the project manager's computer/desk, might have done a similar trick.
Following the announcement, Microsoft shares are indicated for a higher open.
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*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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