Intel acknowledges subpoena in US antitrust probe
Computer chip titan Intel Corp said it had received a subpoena this week from US antitrust regulators after a two-year informal review "with respect to competition in the microprocessor market."
By Agencies |
WASHINGTON: Computer chip titan Intel Corp said on Friday it had received a subpoena this week from US antitrust regulators after a two-year informal review "with respect to competition in the microprocessor market."
The announcement increases the likelihood of formal antitrust charges against the world's biggest chipmaker.
In a statement, the California company said it had received a subpoena on Wednesday from the Federal Trade Commission as part of its review.
"Since 2006 Intel has been working closely with the FTC on an informal inquiry into competition in the microprocessor market and has provided the commission staff with a considerable amount of information and thousands of documents," the statement said.
"By proceeding to a subpoena, the Commission will be able to obtain not only information that Intel has already committed to provide but also information from other parties."
Intel said it "will work cooperatively with the FTC staff to comply with the subpoena and continue providing information."
It added that "the company believes its business practices are well within US law."
The announcement increases the likelihood of formal antitrust charges against the world's biggest chipmaker.
In a statement, the California company said it had received a subpoena on Wednesday from the Federal Trade Commission as part of its review.
"Since 2006 Intel has been working closely with the FTC on an informal inquiry into competition in the microprocessor market and has provided the commission staff with a considerable amount of information and thousands of documents," the statement said.
"By proceeding to a subpoena, the Commission will be able to obtain not only information that Intel has already committed to provide but also information from other parties."
Intel said it "will work cooperatively with the FTC staff to comply with the subpoena and continue providing information."
ADVERTISEMENT
It added that "the company believes its business practices are well within US law."
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
