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Intel gets major support in appeal vs $1.2B EU fine

Oct. 20, 2016 4:51 AM ETIntel Corporation (INTC) StockAMD, INTCBy: Yigal Grayeff, SA News Editor25 Comments
  • An adviser to the Court of Justice of the European Union (ECJ) has backed Intel's (NASDAQ:INTC) appeal against a record €1.06B ($1.16B) fine for antitrust violations and believes a lower court should review it.
  • "Intel's appeal...for abuse of its dominant position should be upheld," Advocate General Nils Wahl said.
  • EU regulators imposed the penalty in 2009 for Intel's attempts to stifle Advanced Micro Devices (NASDAQ:AMD). This included giving rebates to major PC makers for purchasing the bulk of their computer chips from Intel.

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