Updated below: Apple (NSDQ: AAPL) is close to coming to an agreement with European Commission on charges that its iTunes stores broke EU rules by setting prices country by country in Europe, reports Reuters (NSDQ: RTRSY), citing sources. It is supposed to make some changes in pricing in its European services, and after that, EC will close its long-running case against the company. Not sure whether the changes from Apple would involve any money settlement...earlier reports pegged the fine may be as high as $600 million. More details when they come out…

The commission in April sent a ”statement of objection” to Apple and the four majors complaining that customers can only buy digital songs from their home nation’s iTunes Store and not others. This would break article 18 of the EC Treaty governing restrictive business practices - and means British customers must pay £0.79 per track versus the EUR 0.99 (£0.67) enjoyed in the eurozone.

Updated: Also, the case against EMI, Warner Music Group (NYSE: WMG), Universal Music Group and Sony (NYSE: SNE) BMG will be dismissed, a WSJ story says. Also, none of the companies are expected to be fined, as the commission couldn’t build a case against the companies under its cartel legislation.

• Apple, Record Labels Each Deny Culpability For EC Price Differentials
• Apple May Face $600 Million in EU Fines On Music Pricing Differential