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Intel set to lose billions in EU, Denmark, USA fines?

BSN: "Intel's legal woes aren't going to end anytime soon. The chip giant faced a $643 Million [$657M according to current exchange rate] fine for tax evasion in Denmark, while tomorrow [Wednesday, May 13th, 2009] we will see the EU verdict in the case of Market Development Funds, e.g. rebates given to dealers and system assemblers under condition that the dealer does not carry or promote products from Intel's competitor.

According to current rules in the EU, if the chip giant is found guilty following a nine-year long investigation by the EC, Intel could be forced into paying a 10% fine over its last year revenue. According to the information we have in hand, Intel's overall revenue for 2008 was $37.6 billion [€27.62 billion], e.g. the fine would be approximately be 3.76 billion USD or 2.76 billion Euro."

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Nihilism3806d ago

haha, greedy companies, bout time something like this happened