EU drops second DMA designation case against Apple's iOS browser engine policy.
Regulation
The Commission concluded the post-March remediation meets its terms; investigation closed without fine. Third-party browser engine policy reverts to opt-in. Sets precedent for Meta's AI App Store litigation, due to rule by July.
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Angle
Regulatory overhang on the mega-caps is fading faster than consensus. META is the relative laggard with the next ruling pending — calls into July look cheap relative to realized vol.