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Microsoft (Aaa/AAA) Faces EU Antitrust Charges; Not A Spread Mover

TECHNOLOGY


  • The FT reports that Microsoft is set to face EU antitrust charges over its Teams software, accused of restricting competition by integrating Teams tightly with its own products and setting aggressive pricing.
  • Despite efforts to avoid these charges by offering to unbundle Teams globally, EU officials believe these measures are insufficient. Charges could come in the next few weeks though Microsoft could still offer last minute concessions.
  • Maximum theoretical fines here are 10% of annual turnover (FY23 revenue was USD 212bn) though the maximum fine is unlikely. While growing scrutiny in Europe is a headache (noting reports in April of an antitrust investigation into Microsoft’s OpenAI partnership), they ultimately aren’t spread movers given the high rating.
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