It seems the peeps at Which? weren't satisfied that us Brits were being charged more for music in iTunes than the rest of Europe, so they filed a formal complaint with the U.K.'s Office of Fair Trading, which then contacted the European Commission, which started antitrust proceedings. Apple's decision has satisfied the EC, which will take no further action.
At the moment you have to pay 79 pence (about $1.53) per track in the U.K. iTunes Store, while the rest of Europe only pays 99 euro cents (about $1.33). So we're not talking huge savings, but it's still important that companies take some notice that we won't be ripped off by "rounding up." EC Competition Commissioner Neelie Kroes commented, "The Commission is very much in favour of solutions which allow consumers to benefit from a truly Single Market for music downloads."
In the press release, Apple states that it "will reconsider its continuing relationship in the U.K. with any record label that does not lower its wholesale prices in the U.K. to the pan-European level within six months".