Intel's Wallet Takes a Hit: €376.36 Million EU Antitrust Fine
- September 22nd, 2023
- 248 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)
Post Your Comments
Want To Find Some News?
Recent Posts
-
CSX, VinFast Auto, and Crown Castle's Earnings Preview
April 14th, 2024Earnings Spotlight: McCormick, TD SYNNEX, and GameStop Set to Report
March 23rd, 2024Upcoming Earnings: Adobe, Ulta Beauty, and Smartsheet Under the Lens
March 10th, 2024
Member Login