Intel President Paul Otellini Responds to $1.45 Billion Antitrust Fine
Earlier today, the European Commission issued a ruling against Intel and fined it $1.45 billion USD, which it must pay into a holding account while it appeals the decision. The company held over $3.5 billion in cash and over $4 billion in short term investments at the end of the first quarter.
The fine will not affect Intel's operations and its planned 32nm transition to the Westmere family of products. "Intel will continue to invest and innovate," according to Intel spokesperson Claudine Mangano.
It is also unlikely to affect Intel's dividend yields, which is something that has been discussed heavily today since the European Commission decided to time its announcement with Intel's annual series of meetings with investors and analysts. The suspicious timing is even more curious considering that AMD filed its first complaint with the European Commission in 2000.
