This has taken some time but it’s finally done. Intel has confirmed they’ll be fighting their $1.45b fine legally and have filed an appeal for the same in the Court of First Instance in Luxembourg. Back in May, Intel was imposed a $1.45b fine by the EU Commission on account of using business tactics to kill the competition.
Intel has not revealed the grounds on which it is appealing but they’ll be including some of the facts that were ignored previously and try to put the company in a positive light.
The fine had a severe impact on Intel’s recent financial result. As per GAAP accounting basis that also included the fine, Intel made a net loss of $398m, which otherwise would have been a profit.
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