Intel avoids $1.1 billion fine: shares rise to $22.34 after antitrust investigation closed

Intel shares rose by 1.64% to reach $22.34 per share. This happened after the European Court of Justice closed the case of antitrust violations that lasted almost 20 years.

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The company avoided a fine of more than $1.1 billion, which could have significantly affected its financial results.

Intel was accused of attempting to block competitors, including AMD, by providing discounts to major computer manufacturers such as Lenovo, Dell, HP and NEC.

Last year, the General Court in Luxembourg ruled that Intel's discounts did not violate antitrust laws. The court rejected the European Commission's decision, which cited insufficient economic analysis.

Now the court has confirmed its previous decision, closing the possibility of further appeals. This was an important victory for Intel.

Despite a significant drop in shares over the past year, the company is showing signs of recovery.

Source: Reuters