According to sources who have seen the list, it argues that music giant Universal already extracts materially higher prices from digital distributors than rivals, and that buying EMI would allow it to raise digital music prices.

The Commission reportedly disagreed with Universal's assessment of its market share, which excludes music it distributes for independent record labels as well as arguments over the countervailing power of Apple and the pressure on legitimate music sales from piracy.

Among the Commission arguments Universal ...