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Intel says it plans to pay the fine and get the money back if it wins on appeal

The largest chipmaker on the planet -- Intel -- has appealed the EU ruling that fined it $1.45 billion for antitrust allegations. The massive fine is the largest ever imposed on a company by the EU and stemmed from what the EU calls abuse of its market dominant position against AMD.

The huge charge forced Intel to report a loss for the second quarter of 2009 after posting numbers that were higher than what Wall Street expected. Intel spokesman Chuck Malloy said, "Our position is that the decision was wrong and we said that from the day it was announced. It was wrong on many levels."

Mulloy also said that Intel plans to pay the fine and if it wins on appeal, it will get the money back from the EU. A spokesman for the European Commission said that the body "is confident that its antitrust decision against Intel is legally watertight."

Reuters quotes Intel spokesman Robert Manetta saying, "We believe the European Commission misinterpreted some evidence and ignored other pieces of evidence."

The fine was levied against Intel after an eight-year investigation concluded. Some analysts believe that the EU ruling could pressure American legal agencies to take action against Intel. Reuters reports that the FTC and the New York attorney general's office are both investigating Intel.

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A Joke on All of Us
By oserus99 on 7/22/2009 8:56:02 PM , Rating: 1
This is a complete farce of the legal system. The deals that Intel offered were accepted by companies. This was not a one sided deal. These companies chose to accept the deals knowing that they couldn't sell the AMD procs in the first place. If they had thought they could sell the AMD procs over the Intel procs don't you think they would have gone for the bigger seller in a heart beat?

So far, all I can tell about the EU is that it would suck to be the best in any single market. Regardless of it if it is a foreign or an native European company, if you are the best or top in a market they are gunning for you. They seem to under the false notion that every market should have equal competitors and that it is only illegal practices that may make one company shine over another. Reality check, all companies are not created equal. What is next? Intel can only come out with chips on AMD's pace?

The only two results of this ruling are :
A) We all pay more for our procs.
B) Some politicians get more money to play with and get to look good on the sound bites. (Not saying anything was corrupt or underhanded, just plain dumb and misguided.)

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