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Intel's Wallet Takes a Hit: €376.36 Million EU Antitrust Fine

  • September 22nd, 2023
  • 548 views

The European Commission has re-imposed a fine of approximately €376.36 million on Intel Corporation (Nasdaq: INTC) for anticompetitive practices in the x86 central processing unit (CPU) market dating back to 2009. These practices involved conditional rebates and payments to computer manufacturers to suppress competition.

In 2022, the General Court annulled part of the 2009 decision but upheld Intel's violations related to "naked restrictions," including payments to hinder competitors' product launches. The Commission has now imposed a fine specifically for these "naked restrictions."

This decision does not impact the Commission's ongoing appeal concerning conditional rebates. Commissioner Didier Reynders, in charge of competition policy, underlined the Commission's commitment to addressing serious antitrust violations.

In pre-market, $INTC was trading at $34.94, up $0.29 (+0.84%).

 

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)

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