Exclusive-EU will not appeal court ruling against $991 million Qualcomm fine – sources

08/29/2022

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2022.08.29 12:25

Exclusive-EU will not appeal court ruling against $991 million Qualcomm fine - sources
FILE PHOTO: A Qualcomm sign is pictured at Mobile World Congress (MWC) in Shanghai, China June 28, 2019. REUTERS/Aly Song

BRUSSELS (Reuters) – EU antitrust regulators will not appeal a ruling by Europe’s second top court scrapping its 997-million-euro ($991 million) fine against U.S. chipmaker Qualcomm (NASDAQ:QCOM), people familiar with the matter said.

The Luxembourg-based General Court in its June judgment faulted the European Commission on its procedural irregularities affecting Qualcomm’s rights of defence, inflicting a major setback to EU antitrust chief Margrethe Vestager’s crackdown on Big Tech.

($1 = 1.0064 euros)

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08/29/2022

Less than a minute