Tuesday, June 21st 2022
Intel Wants $625 Million in Interest From the EU After Overturned Antitrust Fine
Back in January, Intel overturned an antitrust ruling by the EU and didn't have to pay the $1.2 billion fine, but it seems like the company isn't satisfied with getting out of having to pay a huge fine, but is now asking the EU to compensate the company for interest lost. As such, Intel has filed for "payment of compensation and consequential interest for the damage sustained because of the European Commissions refusal to pay Intel default interest" with the EU General Court. The sum of money Intel is asking for is based on the European Central Bank's refinancing rate and as the original fine was levied back in 2009, Intel claims they're owed more than half of the value of the fine.
Intel is also expecting further interest on the money, if the payment is late from the EU. It should be noted that the European Commission has already paid Intel €38 million in interest on the fine that was paid back in 2009, but Intel is clearly not happy and is asking for a much greater sum. However, the battle between the European Commission and Intel isn't over, as the Commission is working on appealing the ruling, so depending on the outcome of that appeal, Intel might have to pay back the fine to the EU. For those that don't remember the original reason for the antitrust fine, Intel was accused of giving rebates to certain partners and system integrators to make sure they didn't use AMD products in their systems, among other things.
Sources:
Intel Court Filing (PDF), via The Register
Intel is also expecting further interest on the money, if the payment is late from the EU. It should be noted that the European Commission has already paid Intel €38 million in interest on the fine that was paid back in 2009, but Intel is clearly not happy and is asking for a much greater sum. However, the battle between the European Commission and Intel isn't over, as the Commission is working on appealing the ruling, so depending on the outcome of that appeal, Intel might have to pay back the fine to the EU. For those that don't remember the original reason for the antitrust fine, Intel was accused of giving rebates to certain partners and system integrators to make sure they didn't use AMD products in their systems, among other things.
36 Comments on Intel Wants $625 Million in Interest From the EU After Overturned Antitrust Fine
Do better Intel and governments won't be coming after you in the first place..
Intel has been doing it again... even bragging about it.
The European Commission said Wednesday that it appealed the EU General Court's annulment of its €1.06 billion antitrust fine on U.S. chip maker Intel to the bloc's highest court.
Brussels appeals Intel antitrust case to top court – POLITICO
Seriously, this is ridiculous.
The problem is, there's way too many of them, they're way too restrictive of one's personal freedom, thus they create obscurity and controversy instead of order.
It's obvious that Intel's ways are dodgy and should never have won that appeal. I hope the EU never pay them a penny.