European Commission has yet to approve German subsidies for Intel - econ min

The European Commission has yet to approve Berlin's plan to subsidize an Intel chip-making operation on German soil with nearly $10 billion but is working to do so as soon as possible, an economy ministry spokesperson said on Wednesday.

The U.S. chipmaker announced earlier this week that it would spend more than $33 billion to develop two chip-making plants in Magdeburg as part of its expansion push in Europe.