Apple's Shazam deal has EU regulators worried about competition
The European Commission will examine whether the tech giant's proposed acquisition may have adverse effects on the market.
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The EC says it will review Apple's proposed purchase of Shazam, the popular music recognition app.
Apple in December touted its deal to buy Shazam, the popular music recognition app, saying it had "exciting plans in store." The tech giant may have to put those plans on hold for a bit. The European Commission said Tuesday it's reviewing the proposed acquisition.
"The Commission considers the transaction may threaten to adversely affect competition," the EC said in a press release. Seven member countries -- Austria, France, Iceland, Italy, Norway, Spain and Sweden -- requested that the EC take a look at the deal.
Apple didn't immediately respond to a request for comment.
The company said in December that "Apple Music and Shazam are a natural fit." Financial details weren't disclosed but one report put the purchase price at around $400 million.
Acquiring the UK-based Shazam would enhance the tech giant's music streaming service. Apple Music may soon overtake its rival Spotify in US subscribers, according to a Wall Street Journal report this week. Spotify, however, remains the world's largest such service and is nearly twice as big.
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