Intel loses challenge against EU antitrust ruling but wins reduced fine

The Intel Corporation logo is seen at a temporary office during the World Economic Forum 2022 (WEF) in the Alpine resort of Davos, Switzerland May 25, 2022. REUTERS/Arnd Wiegmann

BRUSSELS, Dec 10 (Reuters) - U.S. chipmaker Intel lost its challenge against a 376 million euros ($438 million) EU antitrust fine imposed two years ago for thwarting rivals but gained some solace as Europe's second-highest court slashed the penalty by a third on Wednesday.

The European Commission, which acts as the EU competition enforcer, handed out the fine in 2023 after the tribunal threw out its earlier penalty of 1.06 billion euros imposed in 2009 for blocking Advanced Micro Devices.