EU poised to fine Apple about 500 million euros: Report

The European Union is set to fine Apple about 500 million euros ($539 million) over alleged breaches of EU competition law, the Financial Times reported on Sunday citing unnamed sources.

The fine is expected to be announced early next month, the FT said.

The European Commission, which last year accused Apple of distorting competition in the music streaming market via App Store rules that prevent developers from informing users of other purchasing options, declined to comment on the FT report.