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EU Charges Samsung With Abusing Vital Telecoms Patent

|Includes: Apple Inc. (AAPL)

(Reuters) - The European Commission charged Samsung Electronics on Friday with abusing its dominant position in seeking to bar rival Apple from using a patent deemed essential to mobile phone use.

"Intellectual property rights are an important cornerstone of the single market. However, such rights should not be misused when they are essential to implement industry standards, which bring huge benefits to businesses and consumers alike," Competition Commissioner Joaquin Almunia said in statement.

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Disclosure: I am long AAPL.