Microsoft (MSFT) Draws More EU Scrutiny Over Browser Debacle; Windows 8 in Cross Hairs
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Microsoft (Nasdaq: MSFT) shares are higher Wednesday following reports that the company is facing pressure from European Union regulators over breaching its 2009 antitrust settlement agreement.
Three-years ago, Microsoft settled with the EU to offer more browser choices, avoid a potential penalty of 10 percent of annual revs in the process. The EU Commission alleged that Microsoft broke the agreement from February 2011 through July 2012.
EU Competition Commissioner Joaquin Almunia commented, "We have been in contact with them regarding Windows 8. I have precisely transmitted ... what are my concerns, what kind of presentation should be avoided if they don't want to take the risk of a new investigation."
However, Microsoft says that it is taking responsibility for the issue, attributing the browser choice in its upcoming Windows 8 operating system to a "technical error." The Company apologized to the EU, saying it would continue to cooperate.
Microsoft is up about 0.6 percent in early trading.
Three-years ago, Microsoft settled with the EU to offer more browser choices, avoid a potential penalty of 10 percent of annual revs in the process. The EU Commission alleged that Microsoft broke the agreement from February 2011 through July 2012.
EU Competition Commissioner Joaquin Almunia commented, "We have been in contact with them regarding Windows 8. I have precisely transmitted ... what are my concerns, what kind of presentation should be avoided if they don't want to take the risk of a new investigation."
However, Microsoft says that it is taking responsibility for the issue, attributing the browser choice in its upcoming Windows 8 operating system to a "technical error." The Company apologized to the EU, saying it would continue to cooperate.
Microsoft is up about 0.6 percent in early trading.
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