By Jordan Robertson Nov. 12, 2009
Intel Corp. is paying Silicon Valley rival Advanced Micro Devices Inc. $1.25 billion to squash a legal battle over Intel's sales tactics, a rift that led to antitrust charges against Intel in several countries and was headed toward a costly and nasty trial next year. The settlement announced Thursday between Intel and AMD — whose microprocessors serve as the brains for nearly all personal computers — doesn't let Intel off the hook. It still has to deal with the antitrust charges that AMD pressed governments to file. The biggest case is in Europe, where regulators have fined Intel a record $1.45 billion over what they described as Intel's illegal tactics to bully PC makers into choosing Intel chips over AMD's. EU spokesman Jonathan Todd said that the European Commission "takes note" of Intel's settlement with AMD but that it does not change Intel's duty to comply with European antitrust law. Intel is also fighting an $18.6 million fine in Korea and a federal lawsuit filed last week by New York Attorney General Andrew Cuomo, who accused Intel of abusing its dominance to "rule with an iron fist." The U.S. Federal Trade Commission also is investigating. The settlement does allow Intel to duck a trial set for March in Delaware over a federal lawsuit AMD filed in 2005. "While it pains me to write a check at any time, in this case I think it was a practical settlement," Intel CEO Paul Otellini said on a call with analysts. "And it was a good compromise between the two companies. And in many ways it was a small multiple of the potential damages that could be awarded in a jury trial."
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