Intel to challenge antitrust fine in EU court
Brussels: US chipmaker Intel Corp will ask Europe`s second-highest court in July to scrap a 1.06 billion euro ($1.4 billion) EU antitrust fine, arguing regulators failed to prove it blocked a rival in their 2009 decision.
The European Commission, which acts as EU competition regulator, penalized Intel with its largest ever corporate fine because of anticompetitive tactics against arch-rival Advanced Micro Devices Inc.
The decision came after an eight-year-long investigation.
Intel will argue its case in a four-day hearing at the Luxembourg-based General Court on July 3 to 6, said two people familiar with the case.
The company has said the fine, which represented 4.15 percent of its 2008 turnover, was "manifestly disproportionate". EU regulators can penalize companies with fines of up to 10 percent of their global revenue.
Intel has already gained backing from the European Ombudsman, who censured the Commission for procedural errors in its investigation.
In his non-binding report issued five months after the regulatory finding, the Ombudsman said he had found "maladministration" because the regulator had failed to make a proper note of a meeting with computer maker Dell Inc during its probe.
The case is T-286/09, Intel vs Commission.
More from India
More from World
More from Sports
More from Entertaiment
- Watch: Yogi Adityanath's first speech as Uttar Pradesh CM in Gorakhpur
- Fateh Ka Fatwa: Is it time to introduce reforms in Muslim laws?
- Watch: Yogi Adityanath's speech at Gorakhnath temple
- BJP MLA Vikram Saini accused of voicing controversial statement
- Yogi Adityanath to visit Gorakhpur for first time today after becoming UP CM
- Is this for real: Ajinkya Rahane bizarre shot went for six, concerned Virat Kohli settles with smile — WATCH
- WATCH: Skipper Virat Kohli carries drinks for Team India
- WATCH: Tom Latham takes IMPOSSIBLE catch to dismiss Faf du Plessis
- Mohanlal's 'Manyam Puli' has a BREATHTAKING scene where TIGER attacks a boy! WATCH 'Pulimurugan' clip
- Kapil Sharma-Sunil Grover fight: Will it be a shutdown for 'The Kapil Sharma Show'?