The chieftain of Intel, Paul Otellini, has sought to reassure his shareholders about the European Union’s recent fine that shook him at the time.
Mr Otellini (59) told a Fox channel that it would be some years before the case was resolved, and that his own dedicated team of lawyers are still reading – probably quite painstakingly – the 542 page ruling which apparently cost Intel $1.44 billion. Intel’s beef is it hasn’t been given a chance to respond to the ruling by the “antitrust commissioners”.
He told Fox Business that the appeal process would take quite a long time to sort out. The Eurocrats fined Intel a huge sum of money following an Advanced Micro Devices (AMD) complaint that life wasn’t fair for microprocessor vendors in the continent.
This is all quite interesting because the European Union held its election over the weekend and the concensus is that the continent, including its semi-detached member the United Kingdom, move quite sharply to the right.
But Intel has teams of lawyers, not just one team, and it won’t be very long before they’ve read through this 542 page tome.
And started appealing, no doubt. If only justice wasn’t blind.