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Intel Wants EU Antitrust Fine Appealed

Intel EU antitrust fine

U.S. chipmaker Intel (NASDAQ: INTC) on Wednesday appealed to Europe's second highest court against an antitrust finding and an approximately $1.50 billion fine levied by EU regulators.

"We believe the European Commission misinterpreted some evidence and ignored other pieces of evidence," Intel spokesman Robert Manetta said.

The world's largest chipmaker said it filed an appeal with the Luxembourg-based Court of First Instance.

The European Union executive imposed the fine on Intel in May, the largest ever for a company, for illegal efforts to squeeze out archrival AMD (NYSE: AMD).

The penalty, which came after an eight-year investigation, represents 4.15 percent of Intel's 2008 turnover. The Commission also ordered Intel to cease all illegal practices immediately.

Analysts said the Commission's finding could put pressure on its U.S. counterparts to take some action against Intel.

The company is now being investigated by both the Federal Trade Commission and the New York attorney general's office.