Intel Fights $1.4 Billion EU Antitrust Fine at July Hearing
Stock Chart for Intel Corp (INTC)
Intel Corp., (INTC) the world’s largest maker of computer chips, will fight a 1.06 billion-euro ($1.4 billion) antitrust fine by European Union regulators at a July court hearing.
Intel’s challenge at the EU’s General Court will be heard over four days from July 3 to July 6, according to a spokesperson for the Luxembourg-based tribunal who couldn’t be identified in line with official policy.
Intel is seeking to overturn a 2009 decision from the European Commission that said Intel’s use of rebates violated EU antitrust rules. The Santa Clara, California based company believes the commission “was mistaken in its findings” and is availing of its right to appeal, spokesman Chuck Mulloy said in an e-mail.
The antitrust fine was the biggest ever issued by the EU, more than double the 497 million-euro penalty against Microsoft Corp. (MSFT) in 2004. Advanced Micro Devices Inc., (AMD) which initiated the EU antitrust case, had struggled to overcome Intel’s hold on the market for processors that run PCs.
Antoine Colombani, a spokesman for the EU regulator, declined to comment.
Decisions by the EU court can be appealed a last time to the European Court of Justice, the 27-nation bloc’s highest court, which is also in Luxembourg.
The case is T-286/09 Intel v Commission.
To contact the reporter on this story: Aoife White in Brussels at email@example.com.
To contact the editor responsible for this story: Anthony Aarons at firstname.lastname@example.org.
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.