Italy fines Apple and Amazon $225 mln

Italy has fined tech giants Amazon.com and Apple more than $225 million.

The country’s antitrust authority accused the U.S. firms of anti-competitive cooperation in the sale of Apple and Beats products.

It said a 2018 agreement between the companies meant only selected resellers could sell the products on Amazon’s Italian site.

The watchdog said that was a violation of European Union rules.

Amazon has been fined 68.7 million euros, or about $77 million.

Apple's penalty is nearly double that at just over $151 million.

Both firms have also been ordered to give retailers of Apple and Beats products fair access to Amazon in Italy.

Apple denied any wrongdoing and said it planned to appeal against the fine.

Amazon called the fine "disproportionate and unjustified", and said it too would appeal.

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