EU Fines Intel $1.44 Billion
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Intel has been hit with a $1.44 billion fine by the European Commission for illegal sales tactics – a record punishment – although the company plans to appeal the decision. The fine was issued with respect to Intel’s battle with AMD and noted that the company broke European Union competition laws in the process.
Intel Corp.’s top lawyer says that fighting the European Union’s record $1.45 billion antitrust fine will be an “uphill battle.” It punishes Intel for allegedly selling some of its chips below the cost of making them, and paying retailers and computer makers not to use chips from rival Advanced Micro Devices Inc. Intel has denied the charges.
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