AIRLINK 73.06 Decreased By ▼ -6.94 (-8.68%)
BOP 5.09 Decreased By ▼ -0.09 (-1.74%)
CNERGY 4.37 Decreased By ▼ -0.09 (-2.02%)
DFML 32.45 Decreased By ▼ -2.71 (-7.71%)
DGKC 75.49 Decreased By ▼ -1.39 (-1.81%)
FCCL 19.52 Decreased By ▼ -0.46 (-2.3%)
FFBL 36.15 Increased By ▲ 0.55 (1.54%)
FFL 9.22 Decreased By ▼ -0.31 (-3.25%)
GGL 9.85 Decreased By ▼ -0.31 (-3.05%)
HBL 116.70 Decreased By ▼ -0.30 (-0.26%)
HUBC 132.69 Increased By ▲ 0.19 (0.14%)
HUMNL 7.10 Increased By ▲ 0.04 (0.57%)
KEL 4.41 Decreased By ▼ -0.24 (-5.16%)
KOSM 4.40 Decreased By ▼ -0.25 (-5.38%)
MLCF 36.20 Decreased By ▼ -1.30 (-3.47%)
OGDC 133.50 Decreased By ▼ -0.97 (-0.72%)
PAEL 22.60 Decreased By ▼ -0.30 (-1.31%)
PIAA 26.01 Decreased By ▼ -0.62 (-2.33%)
PIBTL 6.55 Decreased By ▼ -0.26 (-3.82%)
PPL 115.31 Increased By ▲ 3.21 (2.86%)
PRL 26.63 Decreased By ▼ -0.57 (-2.1%)
PTC 14.10 Decreased By ▼ -0.28 (-1.95%)
SEARL 53.45 Decreased By ▼ -2.94 (-5.21%)
SNGP 67.25 Increased By ▲ 0.25 (0.37%)
SSGC 10.70 Decreased By ▼ -0.13 (-1.2%)
TELE 8.42 Decreased By ▼ -0.87 (-9.36%)
TPLP 10.75 Decreased By ▼ -0.43 (-3.85%)
TRG 63.87 Decreased By ▼ -5.13 (-7.43%)
UNITY 25.12 Decreased By ▼ -0.37 (-1.45%)
WTL 1.27 Decreased By ▼ -0.05 (-3.79%)
BR100 7,465 Decreased By -57.3 (-0.76%)
BR30 24,199 Decreased By -203.3 (-0.83%)
KSE100 71,103 Decreased By -592.5 (-0.83%)
KSE30 23,395 Decreased By -147.4 (-0.63%)

BRUSSELS: An EU court on Wednesday annulled a 1.06 billion euro ($1.2 billion) fine against US chipmaker 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.

The commission, the EU's antitrust enforcer, is facing similar appeals in its blockbuster competition cases against Google in procedures that could also drag on for a decade or longer.

The legal labyrinth faced by such antitrust decisions has pushed the EU to pursue a Digital Markets Act, a major law currently under negotiation which would set strict rules on how Big Tech can do business in Europe.

The EU's "analysis is incomplete and does not make it possible to establish to the requisite legal standard that the rebates at issue were capable of having, or likely to have, anticompetitive effects," the court said.

Intel plans $20bn chip manufacturing site in Ohio

The rejection was the third EU court decision in the case. The same court had upheld the fine in 2017, but the higher European Court of Justice told the General Court to revisit its decision.

The commission in 2009 slapped the then-record fine on Intel after saying the company had offered clients price rebates to use its own computer chips in preference to rival AMD.

Questions on the legality of rebates to manufacturers are also at the heart of the Google Android case which saw the search engine giant receive the bloc's current record fine of 4.3 billion euros.

That decision is currently under appeal in the EU courts.

Comments

Comments are closed.