Microsoft Corp. made a deal with the European Commission to resolve their differences over remedies imposed on the software giant for violating antitrust laws before the end of May, the EU"s competition chief said on Monday. "We made a deal that before the end of the month we would reach an agreement. We are waiting for the Microsoft people to do their homework," European Competition Commissioner Neelie Kroes told Reuters. Asked whether she would open a new process against Microsoft if it failed to act, Kroes said: "It is too premature to say that." The Commission could fine Microsoft up to $5 million daily for failure to comply with sanctions imposed on it.
The Commission, which polices competition in the 25-nation European Union, fined the U.S. software giant a record 497 million euro ($654.9 million) on March 24, 2004, and ordered it to change the way it does business.