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Intel fined record $1.45 bln by Europe's antitrust regulator

The European Competition Commission on Wednesday fined chip maker Intel Corp. a record 1.06 billion euros ($1.45 billion) for abusing its dominance of the market to squeeze out rival Advanced Micro Devices. E.U. regulators first began investigating Intel in 2001 after AMD filed a complaint a year before.

"Intel has harmed millions of European consumers by deliberately acting to keep competitors out of the market for computer chips for many years," European Union Competition Commissioner Neelie Kroes said in a statement. The fine is the highest ever imposed by the regulator and represents 4.15% of Intel's 2008 turnover. The U.S. chip maker immediately said it would appeal.

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Posted by | Wed, May 13, 2009 - 06:09 AM