EU Court Annuls 1-bn-euro Antitrust Fine Against Intel

Fahad Shabbir (@FahadShabbir) Published January 26, 2022 | 04:24 PM

An EU court on Wednesday annulled a 1.06 billion euro ($1.2 billion) fine against US chipmaker giant Intel, finding that Brussels had failed to adequately prove anti-competitive practices in a key aspect of the case, a statement said

Brussels, (APP - UrduPoint / Pakistan Point News - 26th Jan, 2022 ) :An EU court on Wednesday annulled a 1.06 billion euro ($1.2 billion) fine against US chipmaker giant Intel, finding that Brussels had failed to adequately prove anti-competitive practices in a key aspect of the case, a statement said.

The decision by the Luxembourg-based General Court came 12 years after the original fine -- the bloc's fourth biggest ever -- and could face a fresh appeal to the EU's highest court by the European Commission.