European Union antitrust regulators will decide by July 30 whether to clear Apple Inc's $3 billion bid for music streaming and audio equipment company Beats, the European Commission said on Wednesday, June 25, according to Reuters.

IPhone maker Apple unveiled the deal last month, which will help it catch up in the fast-growing and lucrative music streaming business.

The Commission can either clear the deal unconditionally or demand concessions if it sees competition issues. It can also open an extensive investigation if it has deeper concerns.