Intel seeks 593 million euros from the Commission after its legal victory – POLITICO

Intel is seeking 593 million euros in interest from the European Commission after a record 2009 antitrust fine was quashed earlier this year, according to a European Court filing released Monday.

The case is the largest amount ever sought after a court ruling last year allowed companies to claim interest on fines held by the Commission for years, essentially creating a massive financial risk for companies. European Union regulators when they lose antitrust fine challenges.

The US microchip giant paid a fine of 1.06 billion euros in 2009 ($1.45 billion at the time) and was awarded $1.2 billion after winning an appeal in January that overturned the fine, he said in a press release in April.

The court filing said the Commission should pay interest at the European Central Bank refinancing rate of 1.25% from May 2009, increased by a punitive rate of 3.5% from August 2009, date on which the fine was paid, until 25 February 2022, the date on which the Commission reimbursed the fine. to Intel less an interest payment of EUR 38 million already made by the Commission.

The Commission has taken cognizance of Intel’s claim and is “currently reviewing legal grounds to prepare its defence,” a spokesperson said in an emailed comment. Intel said it had no further comment.

The case is T-236/22 Intel Corporation v Commission.


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