UK publisher, Penguin has reahed a settlement with the European authorities over its pricing of E-books over the internet.

Penguin, which is owned by Pearson PLC , has made an offer to the European Union's antitrust watchdog, which as been accepted. By the officials. The European Commission has said that the company has made a satisfactory offer to the authority following the investiations into distorted pricing of electronic books in Europe.

"After our decision of December 2012, the commitments are now legally binding on Apple and all five publishers including Penguin, restoring a competitive environment in the market for e-books," Joaquin Almunia, commission vice-president in charge of competition policy, said in a statement.

Penguin was the final publisher to agree to a settlement with the EU's antitrust watchdog in its investigation over e-book price collusion with Apple. Other publishers that includes Apple and five other publishers reached an agreement in December. Investigations had begun 2011 after allegations that Apple and five publishers had illegally colluded to fix the prices of e-books ahead of Apple's first iPad launch in 2010.

The proposal from the firm is similar to that of Simon & Schuster Inc., HarperCollins Publishers Ltd., Hachette Livre SA and Holtzbrinck GmbH, which were earlier accepted by the authority.