Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Top EU court to rule on Intel antitrust case on Sept 6

Published 06/30/2017, 10:06 AM
Updated 06/30/2017, 10:10 AM
© Reuters. The Intel logo is shown at the E3 2017 Electronic Entertainment Expo in Los Angeles
INTC
-
GOOGL
-
AMD
-
GOOG
-

By Foo Yun Chee

BRUSSELS (Reuters) - Europe's top court will rule on Sept. 6 whether to uphold Intel's appeal against a 1.06-billion-euro ($1.2 billion) EU antitrust fine, a case with ramifications for Google's challenge against a record sanction handed out this week.

The European Commission penalized U.S. chipmaker Intel (NASDAQ:INTC) in 2009 because it tried to squeeze out rival Advanced Micro Devices (NASDAQ:AMD) by giving rebates to PC makers Dell [DI.UL], Hewlett-Packard Co, NEC and Lenovo for buying most of their computer chips from Intel.

The fine was a record for an individual company for an antitrust violation and was only eclipsed this week by Google's 2.4-billion-euro penalty. Intel challenged the it in court.

Judges at the Luxembourg-based European Court of Justice (ECJ) will announce their verdict on Sept. 6, a court spokeswoman said, ending a saga that has stretched back more than a decade.

Intel won backing from ECJ court adviser Nils Wahl last year who doubted if the company's actions had really harmed competition. The top court follows such non-binding recommendations in four out of five cases.

In 2014, a lower court however backed the Commission.

© Reuters. The Intel logo is shown at the E3 2017 Electronic Entertainment Expo in Los Angeles

Google (NASDAQ:GOOGL), penalized on Tuesday by the EU competition authority for unfairly promoting its shopping service at the expense of rivals, will be keenly watching the verdict for pointers on how to fight its legal battle. It is expected to appeal the EU fine.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.