EU regulators to decide on Apple, Beats deal by July 30

BRUSSELS Wed Jun 25, 2014 5:07am EDT

A pedestrian walks past a Beats brand display in the subway system of New York, May 29, 2014.    REUTERS/Lucas Jackson

A pedestrian walks past a Beats brand display in the subway system of New York, May 29, 2014.

Credit: Reuters/Lucas Jackson

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BRUSSELS (Reuters) - European Union antitrust regulators will decide by July 30 whether to clear Apple Inc's $3 billion bid for music streaming and audio equipment company Beats, the European Commission said on Wednesday.

IPhone maker Apple unveiled the deal last month, which will help it catch up in the fast-growing and lucrative music streaming business.

The Commission can either clear the deal unconditionally or demand concessions if it sees competition issues. It can also open an extensive investigation if it has deeper concerns.

(Reporting by Foo Yun Chee; editing by Robin Emmott)

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