News Article
Intel 'raided' by EU regulators
Intel has been raided by European Union competition regulators amid claims it abused its market position. Intel could face a large fine.
According to reports in the media, Intel has been under investigation of German authorities.
Chuck Mulloy, a spokesman for Intel, said the regulators raided the company's office in Munich, Germany. Mr Mulloy said Intel was co-operating with the investigators. Intel has been accused of trying to abuse its dominant market position by selling its products below cost price and making cash payments to customers.
"I can confirm that there has been a raid on our offices in Munich," Mr Mulloy said. "As is our normal practice, we are co-operating with authorities," he added.
The investigation started in July 2007 after a complaint from Intel's smaller rival AMD. The initial findings of a probe by the European Commission unveiled last summer concluded that the chip firm engaged in anti-competitive action to thwart AMD.
Regulators have the power to fine Intel up to 10% of annual turnover if they find it guilty of stifling competition. Intel has said it was "confident" it had acted lawfully.
Chuck Mulloy, a spokesman for Intel, said the regulators raided the company's office in Munich, Germany. Mr Mulloy said Intel was co-operating with the investigators. Intel has been accused of trying to abuse its dominant market position by selling its products below cost price and making cash payments to customers.
"I can confirm that there has been a raid on our offices in Munich," Mr Mulloy said. "As is our normal practice, we are co-operating with authorities," he added.
The investigation started in July 2007 after a complaint from Intel's smaller rival AMD. The initial findings of a probe by the European Commission unveiled last summer concluded that the chip firm engaged in anti-competitive action to thwart AMD.
Regulators have the power to fine Intel up to 10% of annual turnover if they find it guilty of stifling competition. Intel has said it was "confident" it had acted lawfully.
