The European Commission announced Wednesday that it will issue a ruling on Apple's acquisition of Beats within the next week.

European Union antitrust regulators are expected to express approval for the takeover, however, we won't know for sure until the ruling comes. Reuters reported today that the ruling will likely come on Monday.

Late last month, Apple announced plans to acquire Beats Music and Beats Electronics, the streaming music service and headphones company co-founded by recording artist Dr. Dre. Apple is acquiring the two companies for a staggering $3 billion.

But, as with all acquisitions of magnitude, several regulatory hurdles must be jumped. Apple's first major test will come at the hands of the European Commission. "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," Reuters reports.

MMi will provide further coverage of EC's decision as soon as the Commission issues its ruling.

Source: Reuters