Intel demands $625m in interest from Europe on overturned antitrust fine

silversurfer

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Aug 17, 2014
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Having successfully appealed Europe's €1.06bn ($1.2bn) antitrust fine, Intel now wants €593m ($623.5m) in interest charges.

In January, after years of contesting the fine, the x86 chip giant finally overturned the penalty, and was told it didn't have to pay up after all. The US tech titan isn't stopping there, however, and now says it is effectively seeking damages for being screwed around by Brussels.

According to official documents [PDF] published on Monday, Intel has gone to the EU General Court for “payment of compensation and consequential interest for the damage sustained because of the European Commissions refusal to pay Intel default interest."

Intel claims it is owed more than half the value of the fine in interest based on an analysis of the European Central Bank’s refinancing rate, which was 1.25 percent when the penalty was approved in 2009 and has increased 3.5 percent points in the 12 years since.

What’s more, Intel (2021 net income: $20bn) has asked the court to impose additional interest on any late payment of those charges moving forward.
 

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