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Intel share [Symbol: INTC / ISIN: US4581401001]

10/20/2016 08:17:02 AM
10/20/2016 08:17:02 AM UTC-0400

EU Court Adviser Backs Intel Appeal Over EUR 1.06 Bln Fine

(RTTNews) - An adviser to the European Union's highest court has thrown his weight behind Intel Corp.'s (INTC) appeal against a decision by the bloc's antitrust regulator to fine the chip maker 1.06 billion euros or $1.17 billion for abusing its dominant market position, according to reports.

The adviser to the European Court of Justice reportedly said that a lower court erred in its 2014 judgment when it threw out the U.S.-based firm's appeal to the decision "in its entirety." The adviser said the case needs to be re-examined.

Although the opinion is nonbinding, judges at the EU's top court typically rule in line with the adviser's view.

Such a decision by the top court could help Intel recoup much or all of the fine it had to pay the European Commission, the bloc's competition authority.

The commission imposed the record fine on the company in 2009 for abusing its dominant position in the microprocessor market.

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