Intel seeks $624 million in interest from EU after antitrust fine win
2 years, 6 months ago

Intel seeks $624 million in interest from EU after antitrust fine win

The Hindu  

U.S. chipmaker Intel has filed a claim for 593 million euros in interest from the European Commission, five months after it convinced Europe's second-top court to scrap a 1.06-billion-euro EU antitrust fine, an EU filing showed on Monday. Europe's top court paved the way for such damage demands last year in a landmark ruling which ordered the EU executive to pay default interest on reimbursed fines in annulled antitrust cases. Intel in its application to the Luxembourg-based General Court said the Commission, which acts as the competition watchdog in the 27-country European Union, had refused to reimburse the company the default interest. Intel said its claim is based on an interest rate equivalent to the European Central Bank's refinancing rate of 1.25% beginning from May 2009, and that this should be increased to 3.5% from August 2009 to February this year when the EU repaid the company fine, minus 38 million euros in an interest amount paid to Intel by the Commission.

History of this topic

EU re-imposes $400 mln fine on Intel for abuse of market power
1 year, 3 months ago
Google loses appeal against record EU antitrust fine, to pay 4.125 billion Euros
2 years, 3 months ago
Intel scores major win as court scraps $1.2 billion EU antitrust fine
2 years, 10 months ago
EU court annuls Intel’s 2009 billion euro antitrust fine
2 years, 10 months ago
Google launches fresh appeal to overturn $2.8 billion fine at top EU court
2 years, 11 months ago

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