Italy's antitrust recalculates Apple, Amazon fines after "material error"

FILE PHOTO: FILE PHOTO: The Apple Inc. logo is seen in the lobby of New York City's flagship Apple store, U.S., January 18, 2011. REUTERS/Mike Segar/File Photo

ROME (Reuters) - Italy's antitrust regulator said on Thursday it had recalculated the fines for U.S tech giants Apple and Amazon due to a "material error" in the first calculation.

The fines now amounted to 114.7 million euros ($130.04 million) for Apple and 58.6 million euros for Amazon, down from 134.5 million euros and 68.7 respectively, the watchdog said in a statement.

The authority had said in November it had fined the two groups for allegedly engaging in anti-competitive cooperation in the sale of Apple and Beats products.

($1 = 0.8821 euros)

(Reporting by Giulia Segreti,e diting by Gianluca Semeraro)

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