The wheels of justice turn slowly indeed. Almost a full decade after Advanced Micro Devices first complained about its larger competitor, Intel, the European Commission on Wednesday handed down its largest ever fine for abuse of a dominant market position, ordering Intel to pay €1.1bn. The decision follows a 2005 ruling in Japan, and another in Korea last year, that found abuse by Intel. But do the opinions of bureaucrats matter?

Shareholders don't think so. The share price of Intel, which had sales last year of $38bn, not to mention a market capitalisation of $85bn and $10bn of cash, barely moved on the news. The company disputes the finding and will appeal, further lengthening the process. European attempts at intervention with Microsoft, including then-record fines, trundle along, with little effect on the company's behaviour. Investors are far more interested in Intel's attempts to cut costs, improve margins and control inventories, the main subject of its analyst day on Tuesday.

The ruling may give some help to AMD, whose shares added 5 per cent on Wednesday. Favourable precedent could help the company's civil suit against Intel set for trial in Delaware next March. Separate investigations by the Federal Trade Commission and the New York attorney-general's office are ongoing, and any form of settlement would help relieve AMD's debt load.