Intel confident of overturning record EU fine


Intel confident of overturning record EU fine

Warwick Ashford

Intel chief Paul Otellini said he is confident that the massive fine imposed by the EU on his company for anti-competitive practices will be overturned.

In May, the EU fined Intel a record €1.06bn for allegedly offering illegal rebates and using other unfair methods to beat down rival chip maker AMD.

The EU said Intel had harmed millions of PC buyers, but Otellini insisted the company did nothing wrong.

"We will appeal the decision out of Brussels, I am comfortable we will win," he told the BBC.

According to Otellini, the EU investigation did not look at all the evidence and did not balance all the facts.

In late July, Intel was given 60 days to appeal, and it has put in place a bank guarantee for €1bn, holding the money until the judgement on the appeal.

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