Apple Inc. will face a European Union fine close to €500 million ($539 million) over the regulator’s investigation into allegations it silenced music-streaming rivals, including Spotify Technology SA, on its platforms.

The penalty — Apple’s first ever from the bloc — will be set after the EU watchdog found that it fell foul of competition rules in thwarting rival music services from informing users that cheaper alternatives existed outside of its App Store, according to people familiar with the matter.