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Intel Wants $625 Million in Interest From the EU After Overturned Antitrust Fine

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rjohnson11
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2022/06/21 23:57:13 (permalink)
https://www.techpowerup.com/296043/intel-wants-usd-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.
 
Personally I think the EU will win their next appeal. 

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    revenantx02
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    Re: Intel Wants $625 Million in Interest From the EU After Overturned Antitrust Fine 2022/06/22 22:51:36 (permalink)
    rjohnson11
     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.
     
    Personally I think the EU will win their next appeal. 




    Makes me think back to working retail.
    Intel does annual competitions where they give a ton of prizes.
    They send out secret shoppers to the stores and if the employees don't push Intel over the competition by using quotes, phrases and benchmark comparisons, the store loses points and doesn't win.
     
     
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    seth89
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    Re: Intel Wants $625 Million in Interest From the EU After Overturned Antitrust Fine 2022/06/26 17:00:16 (permalink)
    EU vs a company. Amazing how powerful some companies can be.


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    Cool GTX
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    Re: Intel Wants $625 Million in Interest From the EU After Overturned Antitrust Fine 2022/06/26 20:25:38 (permalink)
    you cant makeup a better story
     
    I'm sure nothing will happen until all appeals are exhausted, then its up to the law on interest owed if Intel prevails
     
    Probably a shot across the EU's bow to possible influence future actions against Intel

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