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Intel Receives Over $536 Million in Default Interest from EU Antitrust Regulators

By  |  February 2, 2025
Intel Receives Over $536 Million in Default Interest from EU Antitrust Regulators

U.S. chipmaker Intel has received 515.55 million euros ($536 million) in default interest from European Union antitrust regulators following the annulment of a hefty fine imposed in 2009, according to a Reuters report. The payment marks a significant development in the ongoing legal battles between corporations and EU competition authorities over refunded penalties.

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    Intel initially faced a 1.06 billion euro fine from the European Commission in 2009 for allegedly engaging in anti-competitive practices. However, the company successfully contested the fine, convincing Europe’s second-highest court to overturn it. This led Intel to sue the European Commission in 2022, seeking 593 million euros in default interest on the refunded amount, per Reuters.

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    According to EU antitrust chief Teresa Ribera, the Commission disbursed the default interest to Intel on November 6, 2024. In a written comment to a European Parliament lawmaker, Ribera confirmed that the total payment amounted to precisely 515,547,908.15 euros.

    Source: Qualcomm-Intel Merger Talks Raise Antitrust Concerns; Analysts Question Viability

    This case highlights a growing trend where companies are increasingly turning to the courts to demand default interest on reimbursed fines in annulled antitrust cases. The legal precedent set by such disputes may influence future interactions between corporations and EU regulatory bodies, particularly in competition law enforcement.

    While Intel secured the annulment of most of the Commission’s original decision, EU regulators upheld findings that the company had made payments to major computer manufacturers—including HP, Acer, and Lenovo—to delay or block rival products. As a result, Intel was fined an additional 376 million euros in 2023, per Reuters.

    Source: Reuters