AGL 5.63 Decreased By ▼ -0.15 (-2.6%)
ANL 8.80 Decreased By ▼ -0.08 (-0.9%)
AVN 76.38 Decreased By ▼ -2.54 (-3.22%)
BOP 5.25 Decreased By ▼ -0.03 (-0.57%)
CNERGY 4.61 Decreased By ▼ -0.09 (-1.91%)
EFERT 81.30 Decreased By ▼ -0.30 (-0.37%)
EPCL 50.27 Decreased By ▼ -0.64 (-1.26%)
FCCL 13.10 Decreased By ▼ -0.28 (-2.09%)
FFL 5.72 No Change ▼ 0.00 (0%)
FLYNG 7.15 No Change ▼ 0.00 (0%)
FNEL 4.82 No Change ▼ 0.00 (0%)
GGGL 8.82 Decreased By ▼ -0.08 (-0.9%)
GGL 14.54 Decreased By ▼ -1.34 (-8.44%)
HUMNL 5.67 Decreased By ▼ -0.10 (-1.73%)
KEL 2.61 Decreased By ▼ -0.05 (-1.88%)
LOTCHEM 28.75 Decreased By ▼ -0.30 (-1.03%)
MLCF 24.38 Decreased By ▼ -0.72 (-2.87%)
OGDC 71.80 Decreased By ▼ -0.65 (-0.9%)
PAEL 15.05 Decreased By ▼ -0.30 (-1.95%)
PIBTL 4.99 Decreased By ▼ -0.06 (-1.19%)
PRL 16.00 Decreased By ▼ -0.29 (-1.78%)
SILK 1.07 Decreased By ▼ -0.02 (-1.83%)
TELE 9.25 Decreased By ▼ -0.12 (-1.28%)
TPL 7.18 Decreased By ▼ -0.15 (-2.05%)
TPLP 18.50 Decreased By ▼ -0.45 (-2.37%)
TREET 21.64 Decreased By ▼ -0.36 (-1.64%)
TRG 133.30 Decreased By ▼ -7.85 (-5.56%)
UNITY 16.77 Decreased By ▼ -0.25 (-1.47%)
WAVES 9.78 Decreased By ▼ -0.12 (-1.21%)
WTL 1.39 Decreased By ▼ -0.02 (-1.42%)
BR100 4,209 Decreased By -45.8 (-1.08%)
BR30 15,377 Decreased By -355.2 (-2.26%)
KSE100 42,081 Decreased By -312.1 (-0.74%)
KSE30 15,549 Decreased By -114.9 (-0.73%)
Follow us

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.

EU court annuls 1-bn-euro antitrust fine against Intel

Intra-day update: rupee maintains positive momentum against US dollar

US brands South Asian Al-Qaeda, TTP militants as global terrorists

Imran Khan says Senator Azam Swati treated in 'vengeful manner'

Deemed income on capital assets: Taxpayers required to file new form separately

Oil prices mixed on easing COVID curbs in China, firm dollar

Under-pressure Pakistan 17-0 at lunch after England’s mammoth 657

Jul-Nov trade deficit shrinks 30.14pc to $14.406bn YoY

PRL barred from shutting down this month

UN launches record $51.5bn funding appeal

No curbs on oil, LNG and POL products’ LCs: SBP