COURT ORDER
Qualcomm must give regulators answers
The US-based company faces a slew of fines for failing to show its business or financial health is at risk
Brussels — Qualcomm has lost a court bid to stall EU regulators from imposing daily fines of €580,000 for failing to supply information for antitrust probes into the company’s sales tactics. US-based Qualcomm could not continue to refuse answering regulators’ questions because it did not show its business or financial health was at risk, EU General Court president Marc Jaeger said in an order published on its website. While Qualcomm can continue to fight the EU’s demands, it must comply and hand over information to officials. Qualcomm was exposed to penalties "in the range of several millions of euros" for not fully responding to EU data needed for the final stage of an investigation into below-cost sales of chipsets that aimed to squash a smaller rival, the EU court order said. The case is one of two antitrust probes the EU is weighing as it separately examines the firm’s $47bn takeover of NXP Semiconductors. The risk of new fines adds another front to Qualcomm’s battles with regul...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.