What’s Going On With Microsoft Stock? Why An EU Investigation Doesn’t Bode Well – Microsoft (NASDAQ:MSFT)
Microsoft Corp MSFT stock is trading lower Monday on the heels of a report that EU regulators are investigating the company.
The Redmond, Washington-based tech giant had tried to quell antitrust scrutiny in the past, but according to Reuters, the efforts fell short.
Recall Microsoft’s drama with Slack, and its parent company Salesforce, Inc CRM.
Also Read: AI Chatbot Crackdown – Microsoft & Co. Face Regulatory Heat In Europe as ChatGPT Reignites Debate
In the previous decade, Microsoft has suffered penalties worth 2.2 billion euros ($2.4 billion) for practices breaching EU competition rules, including tying or bundling two or more products.
Microsoft added Teams to Office 365 in 2017 for free, with the app eventually replacing Skype for Business.
Slack alleged that its rival had unfairly integrated workplace chat and video app Teams into its Office product, and asked EU officials to force Microsoft to sell Teams separately from its Office software.
Microsoft started talks with the European Commission in 2022 to stave off an investigation. It recently offered to cut the price of its Office product without its Teams app.
Reportedly, the European Commission sought a deeper price cut than the U.S. software giant offered.
Price Action: MSFT shares traded lower by 1.11% at $336.78 on the last check Monday.
Now Read: Elon Musk Gives Bill Gates An ‘F’ In Understanding AI
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
