(Updates to add Meta Platforms' comment in the fifth paragraph)

Apple (AAPL) and Meta Platforms (META) will not face immediate sanctions for failing to comply with the EU's Digital Markets Act, an EU spokesperson told Euronews, according to a report Thursday.

Financial penalties won't be applied automatically once the 60-day grace period ends on June 26, as the European Commission will first conduct a preliminary analysis and share its findings with both companies, the spokesperson told the news outlet.

The commission fined Apple 500 million euros ($576 million) for restricting app developers from directing users to alternative offers outside its platform, while Meta was fined 200 million euros over its "pay or consent" model, which gave users a choice between consenting to personal data use for ads or paying for an ad-free experience -- an approach the commission found limited user freedom.

A commission spokesperson told MT Newswires in an email on Friday that it could not "speculate at this time as regards the fines." The spokesperson said the commission continues "to engage closely with Apple to discuss effective compliance."

Meta said "no new statement or on-record comment to share", while apple did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)