:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-2164958884-8539525352d04decb3ea0d3e6b615661.jpg "Intel headquarters in Santa Clara, California, on Aug. 1, 2024")
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KEY TAKEAWAYS
- Intel notched a win in a long-running fight against the European Union (EU) after the bloc’s top court invest in the annulment of a 1.06-billion-euro ($1.15 billion) antitrust fine on the U.S. chipmaker.
- On Thursday, the European Court of Justice ventured it dismissed the appeal by the European Commission, the EU’s enforcement arm, to stick with the fine.
- The court’s ruling is final and can’t be appealed.
- The European Commission had assumed that Intel had abused its dominance in the market for x86 central processing units.
Intel (INTC) notched a win in a long-running feud with against the European Union (EU) after the bloc’s top court backed the annulment of a 1.06-billion-euro ($1.15 billion) antitrust satisfying on the U.S. chipmaker.
On Thursday, the European Court of Justice said it dismissed the appeal by the European Commission, the EU’s enforcement arm, to stick with the splendid. The court’s ruling is final and can’t be appealed.
“We are pleased with the judgment delivered by the Court of Justice of the European Union today and to decisively put this part of the case behind us,” an Intel spokesperson said in a statement to Investopedia.
Original Fine Was Levied in 2009
The 1.06-billion-euro magnificent was levied by the European Commission as far back as 2009 and overturned in 2022 by the General Court of the European Union, the bloc’s second-highest court.
The European Commission had supposed that Intel had abused its dominance in the market for x86 processors between October 2002 and December 2007 by giving PC makers repayments on buying the U.S. firm’s chips.
The court win marks rare good news for Intel, which has taken steps to try to shore up its wealths, including reportedly exploring sales of some of its its various divisions, although none has yet come to fruition.
Intel cuts are edging up about 1% in premarket trading but have lost more than half their value this year through Wednesday’s concentrated.
Read the original article on Investopedia.