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3000px, 100vw' /></picture></a> </div> </div> </div> </div> </div> <div class="wrapper" id="wrapper"> <div class="container"> <main class="content primary" id="content" role="main"> <article class="relative-content"> <div class="menu-glossaire-wrapper sticky-top" id="menu-definition"><ul class="nav menu-glossaire menu-nb-4"><li class='mav-item menu-glossaire-item menu-glossaire-item-auteur'><a class="btn btn-link" href="//en/dictionary/sole-control#auteur" data-target="#auteur"><span class="picto-round picto-auteur"><img src='squelettes/img/picto-glossaire-auteur.svg?1619777159' alt='' width='20' height='19' /></span><span class="menu-glossaire-item-label">Author Definition</span></a></li> <li class='mav-item menu-glossaire-item menu-glossaire-item-institution'><a class="btn btn-link" href="//en/dictionary/sole-control#institution" data-target="#institution"><span class="picto-round picto-institution"><img src='squelettes/img/picto-glossaire-institution.svg?1619777159' alt='' width='18' height='16' /></span><span class="menu-glossaire-item-label">Institution Definition</span></a></li> <li class='mav-item menu-glossaire-item menu-glossaire-item-references'><a class="btn btn-link" href="//en/dictionary/sole-control#references" data-target="#references"><span class="picto-round picto-references"><img src='squelettes/img/picto-glossaire-references.svg?1619777159' alt='' width='15' height='18' /></span><span class="menu-glossaire-item-label">References</span></a></li> <li class='mav-item menu-glossaire-item menu-glossaire-item-index'><button class="btn btn-link collapsed" role="button" data-target="#index" aria-expanded="false" aria-controls="index"><span class="picto-round picto-index"><img src='squelettes/img/picto-glossaire-index.svg?1619777159' alt='' width='20' height='18' /></span><span class="menu-glossaire-item-label">Table of contents</span></button></li></ul></div> <header class="section section_primary section_cols section_cartouche"> <div class="section__container"> <div class="cartouche cartouche_glossaire"> <h1 class="cartouche__heading" id="start"> <span class="start-mire"></span> <span class="crayon article-titre-86576 ">Sole control</span> </h1> </div> </div> </header> <section class="section section_primary section_cols section_author scrollable-anchor"> <div class="section__container"> <div class="section__main"> <h2 class="section__heading" id="auteur"> <span>Author Definition</span> </h2> <div class="section__content"> <div class="definition-section"> <h3 id="part-apercu" class="definition-section-title">Definition</h3> <div class="crayon article-chapo-116672 apercu surlignable"><p>According to the Commission’s Consolidated Jurisdictional Notice, sole control is acquired – either on a legal or a de facto basis – if one person or an undertaking alone can exercise a decisive influence over another undertaking. Decisive influence can be exercised either through the power to determine the strategic commercial decisions of the controlled undertaking (so-called positive sole control, usually achieved by the acquisition of a majority of voting rights), or through the power of vetoing them (so-called negative sole control). In this scenario, the veto power allows the shareholder to threaten the creation of a deadlock situation to determine the strategic behaviour of the controlled undertaking.</p></div> </div> <div class="definition-section"> <h3 id="part-texte" class="definition-section-title">Commentary</h3> <div class="crayon article-texte-116672 texte surlignable"><p>Sole control occurs in two general situations, which are referred to as “positive” sole control and “negative” sole control. In the first scenario, only one person or undertaking is in the position to actively make decisions on another undertaking’s business strategy. When no one can single handedly adopt those kinds of resolutions and only one person or undertaking has the power of blocking the strategic decisions of the controlled undertaking, a situation of negative sole control arises. This was the situation examined by the Commission in Case M.2777 Cinven Limited/Angel Street Holdings (2002) where, despite the fact that Cinven could not “impose its will”, it was deemed able to exert decisive influence over the target “by virtue of its sole veto right over a range of strategic decisions, […] being alone able to create a deadlock situation by blocking key decisions”.</p> <p>Sole control may be enjoyed on a legal (‘de jure’) or a factual (‘de facto’) basis.</p> <p>De jure sole control arises, in the simplest of cases, when an undertaking acquires the majority of the share capital of another undertaking, and symmetrically the majority of the voting rights and the majority in the board of directors. This form of control can also occur when an undertaking does not have the majority of voting shares, if a minority shareholder has preferential shares related to strategic commercial decisions, or the power to determine the company’s business strategy according to its organizational structure. In other words, de jure sole control may derive from: (i) the acquisition of a majority of the voting rights in an undertaking; (ii) the acquisition of a minority shareholding with specific rights attached; or (iii) the attainment of the right to manage the activities of the undertaking and to determine its business policy on the basis of its organizational structure.</p> <p>De facto sole control is acquired when a minority shareholder is highly likely to achieve a majority at the shareholder’s meetings. Its evaluation is rather complex and requires a case-by-case prospective analysis, based on the voting pattern of previous shareholders’ meetings. This type of evaluation allows the Commission to take into account the foreseeable changes in the structure of shareholders’ meetings, and especially whether it is likely that the voting rights of the minority shareholders are sufficient to meet the majorities required for strategic decisions.</p> <p>The relevant criteria in the assessment of de facto sole control have been progressively elaborated in the Commission’s practice. In its decision in case M.025 Arjomari/Wiggins Teape (1990), for example, the Commission took into account the dispersion of capital as a factor to determine the likelihood of a minority shareholder to reach the majority, while in case M.343 Sociétè Générale de Belgique/Générale de Banque (1993), the Commission analyzed the attendance rate in shareholders’ meetings in previous years. Indeed, where, on the basis of the number of shareholders attending the shareholders’ meetings (preferably regular and not extraordinary ones), a minority shareholder has a stable majority of the votes in this meeting, then the large minority shareholder is considered to have sole control.</p> <p>Nevertheless, historic voting patterns at the shareholders’ meetings may not always provide a sufficiently reliable basis to assess the existence of de facto control, and it may therefore become necessary to also consider other elements in order to verify whether a minority shareholder has acquired the ability to exercise decisive influence over strategic decisions of an undertaking. To this end, the Commission’s decision in in case M.8465 Vivendi / Telecom Italia (2017) provides examples of the factual elements that may be assessed to ascertain whether a minority shareholder exerts control over an undertaking in the absence of legal means to exercise such control or an informative voting pattern at the shareholders’ meetings.</p> <p>Indeed, the Commission established that Vivendi had acquired de facto sole control of Telecom because, “even though it did not achieve a majority of votes at the shareholders’ meeting of 4 May 2017, Vivendi was still in a position to appoint the majority of the board of directors, which is in charge of taking TIM’s strategic decisions”. Indeed, the specific rules governing the appointment of the members of Telecom Italia’s board of directors allowed the shareholder with the highest number of votes cast to appoint the majority of these members, and at that time Vivendi was the largest, and the only industrial, shareholder of Telecom Italia (helding 23.93% of the voting rights, with no other shareholder holding more than 5% of the shares).</p> <p>Conversely, in the same decision, the Commission found that Vivendi, which held 28.80% of the share capital and 29.94% of the voting rights in Mediaset, did not jointly or solely control Mediaset. This was essentially due to the fact that: (i) another industrial shareholder (Fininvest) historically held the largest share of Mediaset’s share capital (at that time amounting to 39.53% of the ordinary share capital and 41.09% of the voting share capital) and that it had obtained the majority of the voting rights in the previous six shareholders’ meetings and appointed the majority of the board in the previous two terms; (ii) Vivendi had not been able to appoint any members of the board of directors and did not enjoy any specific information or other rights, which materially differed from those of any other minority shareholder; and (iii) Vivendi and Mediaset were engaged in ongoing litigation following the breakdown of the negotiations for the acquisition of Mediaset Premium by Vivendi, which thus seemed to exclude the existence of a commonality of interests between Vivendi and Fininvest.</p> <p>Lastly, as clarified by the General Court in Air France v. Commission (1994), an option to purchase or convert shares does not constitute a sufficient element to establish sole control. The grant of an option may be relevant if it is clear that the option will be exercised soon on the basis of legally binding agreements, in which case it may exceptionally lead to an assessment of control. Otherwise, it might be taken into consideration, alongside other circumstances, to infer a situation of de facto sole control.</p></div> </div> <div class="definition-section"> <h3 id="part-jurisprudence" class="definition-section-title">Case references</h3> <div class="crayon article-reference-116672 reference"><p><a href="https://ec.europa.eu/competition/mergers/cases/decisions/m8465_568_3.pdf" class="spip_out" rel="external">Case M.8465 Vivendi / Telecom Italia C(2017) 3834</a></p> <p><a href="https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A31993M0343" class="spip_out" rel="external">Case No IV/M.343 Société Générale de Belgique/Générale de Banque (1993/C 225/03)</a></p> <p><a href="https://ec.europa.eu/competition/mergers/cases/decisions/m25_19901210_300_en.pdf" class="spip_out" rel="external">Case No IV/M.025 Arjomari-Prioux SA/Wiggins Teape Appleton pic (90/C 321/04)</a></p> <p><a href="https://ec.europa.eu/competition/mergers/cases/decisions/m2777_en.pdf" class="spip_out" rel="external">Case COMP/M.2777 Cinven Limited/Angel Street Holdings (2002/C 147/03)</a></p> <p><a href="https://eur-lex.europa.eu/legal-content/FR/TXT/?uri=CELEX%3A61993TJ0002" class="spip_out" rel="external">T-2/93 AirFrance v. Commission, ECLI:EU:T:1994:55</a></p></div> </div> <div class="definition-section"> <h3 id="part-biblio" class="definition-section-title">Bibliography</h3> <div class="crayon article-ps-116672 jurisprudence"><p>Commission Consolidated Jurisdictional Notice under Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings (2008/C 95/01)</p> <p>David Bailey and Laura Elizabeth John (eds.), Bellamy and Child: European Union Law of Competition (8th edn, Oxford University Press 2018), Chapter 8</p> <p>Jonathan Faull and Ali Nikpay (eds.), The EU Law of Competition (3rd edn, Oxford University Press 2014), Chapter 5</p> <p>Richard Whish and David Bailey, Competition Law (10th end, Oxford University Press 2021), Chapter 21</p></div> </div> </div> </div> <aside class="section__aside side-col"> <div class="miniplan miniplan_definition sticky-top" id="definition-index"> <ul class="nav nav-list"> <li><a href="//en/dictionary/sole-control#part-apercu" data-target="#part-apercu">Definition</a></li> <li><a href="//en/dictionary/sole-control#part-texte" data-target="#part-texte">Commentary</a></li> <li><a href="//en/dictionary/sole-control#part-jurisprudence" data-target="#part-jurisprudence">Case references</a></li> <li><a href="//en/dictionary/sole-control#part-biblio" data-target="#part-biblio">Bibliography</a></li> </ul> </div> <h2>Author</h2> <div class="auteurs"> <ul class="liste-items liste-items-well"> <li class="item"><div class="entry auteur" itemscope itemtype="http://schema.org/Person"> <strong class="entry-title"> <a href="en/auteurs/piero-fattori" itemprop="url"> <span class='logo-img-wrapper spip_logo' style="width:49px;"><span class="img" style="display:block;position:relative;height:0;width:100%;padding-bottom:102.04%;overflow:hidden;background:url(local/cache-vignettes/L97xH100/11_big-5caa5.png?1711365938) no-repeat center;background-size:100%;"> </span></span> <span itemprop="name" class="nom">Piero Fattori</span></a> </strong> <div class="entry-content"> <span class='organisation' itemprop="worksFor" itemtype="http://schema.org/Organization">Gianni Origoni Grippo & Partners (Rome)</span> </div> <div class="entry-meta"> <span class="pays">Italy</span> <span class="articles"><em>2</em> contributions</span> <span class="visites"><em>4908</em> visits</span> </div> </div></li> </ul> </div> <div class="well citation"> <h2>Quotation</h2> <article class="entry article article-dictionary hentry"> <span class="authors">Piero Fattori, </span> <span class="entry-title">Sole control</span><span class="rubrique"><span class="sep">, </span> Global Dictionary of Competition Law, Concurrences, Art. N° 86576</span> </article> </div> <div class="well stats"> <p><i class="picto picto-eye"></i> <b>Visits</b> <em class="number">4909</em></p> </div> </aside> </div> </section> <section class="section section_primary section_cols section_author scrollable-anchor"> <div class="section__container"> <div class="section__main"> <h2 class="section__heading" id="institution"> <span>Institution Definition</span> </h2> <div class="section__content"> <div class="crayon article-texte-86576 texte surlignable"><p>Under the Commission Consolidated Jurisdictional Notice under Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings, sole control is defined as follow : "Sole control is acquired if one undertaking alone can exercise decisive influence on an undertaking. Two general situations in which an undertaking has sole control can be distinguished. First, the solely controlling undertaking enjoys the power to determine the strategic commercial decisions of the other undertaking. This power is typically achieved by the acquisition of a majority of voting rights in a company. Second, a situation also conferring sole control exists where only one shareholder is able to veto strategic decisions in an undertaking, but this shareholder does not have the power, on his own, to impose such decisions (the so-called negative sole control). In these circumstances, a single shareholder possesses the same level of influence as that usually enjoyed by an individual shareholder which jointly- controls a company, i.e. the power to block the adoption of strategic decisions. In contrast to the situation in a jointly controlled company, there are no other shareholders enjoying the same level of influence and the shareholder enjoying negative sole control does not necessarily have to cooperate with specific other shareholders in determining the strategic behaviour of the controlled undertaking. Since this shareholder can produce a deadlock situation, the shareholder acquires decisive influence within the meaning of Article 3(2) and therefore control within the meaning of the Merger Regulation." <strong>©</strong> <a href="IMG/pdf/eu_-_jurisdictional_notice_-_sole_control.pdf?40148/1445dd89c0682b466a8c93a743a47fc8c289532b443313321688ee5ebe2e5f17" class="spip_in" type='application/pdf'><strong>European Commission</strong></a></p> <p>See also <a href="en/dictionary/control-notion" class="spip_in">Notion of control</a></p></div> </div> </div> <aside class="section__aside side-col"></aside> </div> </section> <section class="section section_primary section_cols section_references scrollable-anchor"> <div class="section__container"> <div class="section__main"> <section class="subsection subsection_jurisprudence related-section related-jurisprudence scrollable-anchor"> <h2 class="section__heading" id="related-jurisprudence"> <span id="references">Case Comments</span> </h2> <div class="liste articles articles-related"> <div class="liste-items"> <div class='ajaxbloc' data-ajax-env='1yX1QhWtpyjR6PNYiG4xnWlupxP+kzYliwzch4PoEDh73xTZYL0EJ5wKMJkOyuce9fQwtB5nH/lyTqNSeOfqce+S9mvp1VLknkrEypBDdPNeILeNf9aFO/tCOBpK0V/ks8kxbtbGVkZz9Ztwi5V4V4ieuxVlMfR1Nam6TAeWGpFs+v7GMQdqvuvmUW1npLVGwo/KsdC91U0X/TTxtf7HZBtvEzQHoxYRmsSCw0asMhxRMxhwidAbZoL0v/gu+gKgf4oU9Ax2UmJqR525hC94uxq++dbQqR2OJMAl/tGT8GGuLpwzTfSVX9u122ePDd00fXw80VznmF9i1jDk2fOiosQmZ9/A/UEZoZtN' data-origin="//en/dictionary/sole-control"> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/new-zealand-competition-authority">New Zealand Competition Authority</a></span></span> <strong class="h6-like entry-title"><a href="en/bulletin/news-issues/latest/the-new-zealand-competition-authority-publishes-a-statement-of-preliminary-123751" rel="bookmark">The New Zealand Competition Authority publishes a Statement of Preliminary Issues relating to the proposed acquisition of a quality food manufacturer by a multinational retail company <em>(Woolworths / Beak & Johnston)</em></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2025-02-09T23:00:00Z">10 February 2025</time></p> <div class="crayon article-intro-123751 introduction entry-content"> <p>Statement of Preliminary Issues released for Woolworths’ proposed acquisition of Beak & Johnston* <br class='autobr' /> The Commerce Commission has published a statement of preliminary issues relating to an application from Woolworths Group Limited (Woolworths) seeking clearance to acquire 100% of the shares in (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/new-zealand-competition-authority">New Zealand Competition Authority</a></span></span> <strong class="h6-like entry-title"><a href="en/bulletin/news-issues/latest/the-new-zealand-competition-authority-identifies-potential-competition-concerns" rel="bookmark">The New Zealand Competition Authority publishes a Statement of Issues regarding a proposed merger in the energy sector <em>(Contact / Manawa)</em></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2025-02-04T23:00:00Z">5 February 2025</time></p> <div class="crayon article-intro-123728 introduction entry-content"> <p>Statement of Issues released for Contact’s proposed acquisition of Manawa* <br class='autobr' /> The Commerce Commission has published a Statement of Issues relating to the application from Contact Energy Limited seeking clearance to acquire up to 100% of the shares in Manawa Energy Limited. <br class='autobr' /> The Statement of (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/croatian-competition-authority">Croatian Competition Authority</a></span></span> <strong class="h6-like entry-title"><a href="en/bulletin/news-issues/january-2025/the-croatian-competition-authority-unconditionally-clears-the-acquisition-of" rel="bookmark">The Croatian Competition Authority unconditionally clears the acquisition of sole control of a company active in the wood industry <em>(Bjelin Invest / Valinge Innovation)</em></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2025-01-28T23:00:00Z">29 January 2025</time></p> <div class="crayon article-intro-123639 introduction entry-content"> <p>CCA clears the concentration between Bjelin Invest AB, Sweden / Valinge Innovation Sweden AB, Sweden* <br class='autobr' /> The Croatian Competition Agency (CCA) cleared in the first phase the transaction on the basis of which Bjelin Invest AB, Sweden, acquires sole control on a permanent basis over the undertaking (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/hellenic-competition-authority">Hellenic Competition Authority</a></span></span> <strong class="h6-like entry-title"><a href="en/bulletin/news-issues/january-2025/the-hellenic-competition-authority-unconditionally-approves-the-acquisition-of" rel="bookmark">The Hellenic Competition Authority unconditionally approves the acquisition of sole control of a waste management company by a Cypriot holding company <em>(Hlektor / Manetial)</em></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2025-01-19T23:00:00Z">20 January 2025</time></p> <div class="crayon article-intro-123491 introduction entry-content"> <p>Clearance of the notified concentration which concerns the acquisition of sole control over “HLEKTOR SA” by “MANETIAL LTD”* <br class='autobr' /> By its Decision no 874/2025, adopted on the 20th of January 2025, the Hellenic Competition Commission (HCC), in Plenary, unanimously approved, pursuant to Article 8 (6) (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/spanish-competition-authority">Spanish Competition Authority</a></span></span> <strong class="h6-like entry-title"><a href="en/bulletin/news-issues/january-2025/the-spanish-competition-authority-begins-phase-ii-analysis-of-an-acquisition-of" rel="bookmark">The Spanish Competition Authority begins Phase II analysis of an acquisition of exclusive control in the caustic soda and sodium hypochlorite markets <em>(Bondalti Chemicals / Ercros)</em></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2025-01-13T23:00:00Z">14 January 2025</time></p> <div class="crayon article-intro-123318 introduction entry-content"> <p>CNMC to analyse Bondalti Chemicals/Ercros merger in second phase* Bondalti notified the acquisition of exclusive control of Ercros on July 9, 2024. The transaction may pose risks to competition in the caustic soda and sodium hypochlorite markets and therefore requires further analysis. <br class='autobr' /> The (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/hellenic-competition-authority">Hellenic Competition Authority</a></span></span> <strong class="h6-like entry-title"><a href="en/bulletin/news-issues/january-2025/the-hellenic-competition-authority-unconditionally-clears-the-acquisition-of-a" rel="bookmark">The Hellenic Competition Authority unconditionally clears the acquisition of a home appliance importer by an electronics wholesale company <em>(Quest Holdings / Benroubi)</em></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2025-01-07T23:00:00Z">8 January 2025</time></p> <div class="crayon article-intro-123216 introduction entry-content"> <p>Clearance of the concentration concerning the acquisition by Quest Holdings of sole control over (New) Benroubi SA <br class='autobr' /> By its Decision no 871/2025 adopted on the 8th of January 2025, the Hellenic Competition Commission (HCC), in Chamber, unanimously approved, pursuant to Article 8 (3) of Greek Law (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/auteur/Competition-Commission-of-India">Indian Competition Authority</a></span></span> <strong class="h6-like entry-title"><a href="en/bulletin/news-issues/january-2025/the-indian-competition-authority-approves-the-acquisition-of-an-electronics" rel="bookmark">The Indian Competition Authority approves the acquisition of an electronics manufacturing company by a rival <em>(Pegatron / TEPL)</em></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2025-01-06T23:00:00Z">7 January 2025</time></p> <div class="crayon article-intro-123429 introduction entry-content"> <p>Commission approves the acquisition of certain shareholding of Pegatron Technology India Pvt. Ltd. (Pegatron India) by Tata Electronics Pvt. Ltd. (TEPL) and the transfer of TEL Components Pvt. Ltd.(TEL)’s business undertaking to Pegatron India* <br class='autobr' /> The Proposed Combination involves the following (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/new-zealand-competition-authority">New Zealand Competition Authority</a></span></span> <strong class="h6-like entry-title"><a href="en/bulletin/news-issues/january-2025/the-new-zealand-competition-authority-investigates-a-merger-between-a" rel="bookmark">The New Zealand Competition Authority investigates a merger between a supermarket retailer and a manufacturer of food products <em>(Woolworths / Beak & Johnston)</em></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2025-01-05T23:00:00Z">6 January 2025</time></p> <div class="crayon article-intro-123220 introduction entry-content"> <p>Woolworths seeks clearance to acquire Beak & Johnston <br class='autobr' /> The Commerce Commission has received a clearance application from Woolworths Group Limited (Woolworths) to acquire 100% of the shares in Beak & Johnston Holdings Pty Ltd (Beak & Johnston). <br class='autobr' /> Woolworths is an Australian-based (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/new-zealand-competition-authority">New Zealand Competition Authority</a></span></span> <strong class="h6-like entry-title"><a href="en/bulletin/news-issues/december-2024/the-new-zealand-competition-authority-publishes-a-statement-of-issues-on-the" rel="bookmark">The New Zealand Competition Authority publishes a Statement of Issues on the proposed acquisition of an energy wholesaler by a rival firm <em>(Contact / Manawa)</em></a></strong> <p class="publication"><time pubdate="pubdate" datetime="2024-12-19T23:00:00Z">20 December 2024</time></p> <div class="crayon article-intro-122752 introduction entry-content"> <p>Commission to issue Statement of Issues on Contact’s proposed acquisition of Manawa* <br class='autobr' /> The Commerce Commission has decided to issue a Statement of Issues for the application from Contact Energy Limited seeking clearance to acquire up to 100% of the shares in Manawa Energy Limited. <br class='autobr' /> The (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/authors/alain-ronzano">Alain Ronzano</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-1-2025/alertes/sole-control-the-french-competition-authority-publishes-the-decision" rel="bookmark"><strong>Sole control</strong>: The French Competition Authority publishes the decision authorising the acquisition of sole control of the French publishing group specialising in comic strips <em>(Éditis ; 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The FCA focused on the structuring role of (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/auteurs/marie-cecile-rameau">Marie-Cécile Rameau</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/auteurs/yelena-trifounovitch">Yelena Trifounovitch</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-2-2018/articles/merger-control-the-apprehension-of-minority-shareholdings-by-the-european" rel="bookmark">Merger control - Assessment of minority shareholdings by the European Commission: From standard solutions to avant-garde theses</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2018-04-30T22:00:00Z">May 2018</time></p> <div class="crayon article-intro-86620 introduction entry-content"> <p>In 2017, the European Commission examined several industrial and commercial minority shareholdings that a company may hold in another, and found either that there was exclusive de facto control, even where there was no certainty that the shareholder would have a majority at the general meeting, (…)</p> </div> </article></div> <div class="item short"> <article class="entry article hentry"> <span class="authors"><span class="vcard author"><a class="url fn spip_in" href="en/auteur/Jens-Peter-Schmidt">Jens Peter Schmidt</a></span></span> <strong class="h6-like entry-title"><a href="en/review/issues/no-2-2013/international/germany-merger-control-analysis-of-minority-shareholdings-a-model-for-the-eu" rel="bookmark">Germany : Merger control analysis of minority shareholdings – A model for the EU ?</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2013-04-30T22:00:00Z">May 2013</time></p> <div class="crayon article-intro-51497 introduction entry-content"> <p>The European Commission is considering revising the current treatment of non-controlling minority shareholdings that could grant the Commission the competence to examine concentrations that do not confer control over another company. 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Carpi Badia</a></span>, <span class="vcard author"><a class="url fn spip_in" href="en/authors/nathalie-jalabert-doury">Nathalie Jalabert-Doury</a></span></span> <strong class="h6-like entry-title"><a href="en/events/how-should-full-function-joint-ventures-be-assessed-after-the-austria-asphalt-en" rel="bookmark">How should full-function joint ventures be assessed after the Austria Asphalt ruling: A comparative approach</a></strong> <p class="publication"><time pubdate="pubdate" datetime="2018-03-09T11:30:00Z">9 March 2018</time></p> <div class="crayon article-intro-86370 introduction entry-content"><p>Law & Economics workshop organised by Concurrences Review in partnership with Mayer Brown.</p></div> </article></div> </div> </div> </div> </section> </div> <aside class="section__aside side-col"> <div class="miniplan miniplan_related sticky-top" id="related-index"> <ul class="nav nav-list"> <li><a href="//en/dictionary/sole-control#related-jurisprudence" 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data-anchor="#t">t</a> <a class="lettre" href="//en/dictionary/sole-control#u" data-anchor="#u">u</a> <a class="lettre" href="//en/dictionary/sole-control#v" data-anchor="#v">v</a> <a class="lettre" href="//en/dictionary/sole-control#w" data-anchor="#w">w</a> </div> </div> <div class="row entree" id="a"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">a</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/absolute-territorial-protection">Absolute territorial protection </a> <span class="sep">•</span> <a href="en/dictionary/abuse-of-dominant-position-en">Abuse of dominant position</a> <span class="sep">•</span> <a href="en/dictionary/abuse-of-economic-dependence">Abuse of economic dependence</a> <span class="sep">•</span> <a href="en/dictionary/access-to-the-file-en">Access to the file</a> <span class="sep">•</span> <a href="en/dictionary/actual-competitor">Actual competitor </a> <span class="sep">•</span> <a href="en/dictionary/administered-prices">Administered prices</a> <span class="sep">•</span> <a href="en/dictionary/advisory-committee-118302">Advisory committee</a> <span class="sep">•</span> <a href="en/dictionary/agent-en">Agent</a> <span class="sep">•</span> <a href="en/dictionary/agreement-notion-en">Agreement (notion)</a> <span class="sep">•</span> <a href="en/dictionary/ai-collusion-algorithm">AI Collusion (Algorithm)</a> <span class="sep">•</span> <a href="en/dictionary/AKZO-Procedure">AKZO Procedure </a> <span class="sep">•</span> <a href="en/dictionary/amicus-curiae">Amicus curiae</a> <span class="sep">•</span> <a href="en/dictionary/ancillary-restraints">Ancillary restraints </a> <span class="sep">•</span> <a href="en/dictionary/annulment">Annulment</a> <span class="sep">•</span> <a href="en/dictionary/anticompetitive-market-distortions">Anticompetitive Market Distortions</a> <span class="sep">•</span> <a href="en/dictionary/anticompetitive-object-or-effect-en">Anticompetitive object or effect</a> <span class="sep">•</span> <a href="en/dictionary/anticompetitive-practices">Anticompetitive practices</a> <span class="sep">•</span> <a href="en/dictionary/Antitrust">Antitrust</a> <span class="sep">•</span> <a href="en/dictionary/applicable-law">Applicable law</a> <span class="sep">•</span> <a href="en/dictionary/arbitration">Arbitration</a> <span class="sep">•</span> <a href="en/dictionary/article-11-letter">Article 11 letter </a> <span class="sep">•</span> <a href="en/dictionary/artificial-intelligence">Artificial Intelligence </a> <span class="sep">•</span> <a href="en/dictionary/aec-as-efficient-competitor-principle-and-test">As-Efficient Competitor (AEC)</a> </div> </div> </div> <div class="row entree" id="b"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">b</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/barriers-to-entry-en">Barriers to entry</a> <span class="sep">•</span> <a href="en/dictionary/bertrand-nash-equilibrium">Bertrand (Nash) equilibrium</a> <span class="sep">•</span> <a href="en/dictionary/bid-rigging">Bid rigging</a> <span class="sep">•</span> <a href="en/dictionary/block-exemption-regulation">Block exemption (Regulation) </a> <span class="sep">•</span> <a href="en/dictionary/boycott">Boycott</a> <span class="sep">•</span> <a href="en/dictionary/brand-competition-en">Brand competition</a> <span class="sep">•</span> <a href="en/dictionary/bundling">Bundling</a> <span class="sep">•</span> <a href="en/dictionary/burden-of-proof">Burden of proof</a> <span class="sep">•</span> <a href="en/dictionary/buyer-power">Buyer power </a> </div> </div> </div> <div class="row entree" id="c"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">c</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/cartel">Cartel </a> <span class="sep">•</span> <a href="en/dictionary/clearance-phase-ii-merger">Clearance phase II (merger)</a> <span class="sep">•</span> <a href="en/dictionary/collecting-society">Collecting society </a> <span class="sep">•</span> <a href="en/dictionary/collective-dominance">Collective dominance</a> <span class="sep">•</span> <a href="en/dictionary/collective-redress-class-action">Collective redress (class action)</a> <span class="sep">•</span> <a href="en/dictionary/comity">Comity </a> <span class="sep">•</span> <a href="en/dictionary/commission-communication">Commission communication</a> <span class="sep">•</span> <a href="en/dictionary/competence">Competence </a> <span class="sep">•</span> <a href="en/dictionary/competition-policy-89181">Competition policy</a> <span class="sep">•</span> <a href="en/dictionary/complaint">Complaint </a> <span class="sep">•</span> <a href="en/dictionary/Compliance-programme">Compliance programme </a> <span class="sep">•</span> <a href="en/dictionary/compulsory-license">Compulsory license</a> <span class="sep">•</span> <a href="en/dictionary/concentration-indexes-en">Concentration indexes</a> <span class="sep">•</span> <a href="en/dictionary/concerted-practices-en">Concerted practices</a> <span class="sep">•</span> <a href="en/dictionary/concession-86056">Concession</a> <span class="sep">•</span> <a href="en/dictionary/concurrent-jurisdiction">Concurrent jurisdiction</a> <span class="sep">•</span> <a href="en/dictionary/Consortium-12192">Consortium </a> <span class="sep">•</span> <a href="en/dictionary/consumer-protection">Consumer protection</a> <span class="sep">•</span> <a href="en/dictionary/consumers-associations-en">Consumers’ associations</a> <span class="sep">•</span> <a href="en/dictionary/control-change">Control (change)</a> <span class="sep">•</span> <a href="en/dictionary/control-notion">Control (notion)</a> <span class="sep">•</span> <a href="en/dictionary/cooperation-between-competition-authorities-en">Cooperation between competition authorities</a> <span class="sep">•</span> <a href="en/dictionary/coordinated-effects">Coordinated effects</a> <span class="sep">•</span> <a href="en/dictionary/copyright">Copyright</a> <span class="sep">•</span> <a href="en/dictionary/corruption">Corruption</a> <span class="sep">•</span> <a href="en/dictionary/cost-based-access">Cost-based access</a> <span class="sep">•</span> <a href="en/dictionary/cournot-nash-equilibrium">Cournot (Nash) equilibrium</a> <span class="sep">•</span> <a href="en/dictionary/criminal-sanctions">Criminal sanctions</a> <span class="sep">•</span> <a href="en/dictionary/cross-subsidisation">Cross subsidisation </a> </div> </div> </div> <div class="row entree" id="d"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">d</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/damages">Damages</a> <span class="sep">•</span> <a href="en/dictionary/de-minimis-notice">De minimis notice</a> <span class="sep">•</span> <a href="en/dictionary/digital-markets-act">Digital Markets Act</a> <span class="sep">•</span> <a href="en/dictionary/direct-effect">Direct effect</a> <span class="sep">•</span> <a href="en/dictionary/discriminatory-practices">Discriminatory practices</a> <span class="sep">•</span> <a href="en/dictionary/distribution-agreement">Distribution agreement</a> <span class="sep">•</span> <a href="en/dictionary/divestiture">Divestiture</a> <span class="sep">•</span> <a href="en/dictionary/dominance-notion">Dominance (notion)</a> <span class="sep">•</span> <a href="en/dictionary/downstream-market-117440">Downstream market</a> </div> </div> </div> <div class="row entree" id="e"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">e</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/echr">ECHR</a> <span class="sep">•</span> <a href="en/dictionary/economic-analysis">Economic analysis</a> <span class="sep">•</span> <a href="en/dictionary/economic-efficiency">Economic efficiency</a> <span class="sep">•</span> <a href="en/dictionary/economies-of-scale">Economies of scale </a> <span class="sep">•</span> <a href="en/dictionary/ecosystem-failures">Ecosystem Failures</a> <span class="sep">•</span> <a href="en/dictionary/effect-on-trade-between-member-states">Effect on trade between Member States</a> <span class="sep">•</span> <a href="en/dictionary/effective-judicial-protection">Effective judicial protection</a> <span class="sep">•</span> <a href="en/dictionary/effects-doctrine-118100">Effects doctrine</a> <span class="sep">•</span> <a href="en/dictionary/efta-surveillance-authority-esa-court">EFTA Surveillance Authority (ESA) & Court </a> <span class="sep">•</span> <a href="en/dictionary/environmental-protection-en">Environmental protection</a> <span class="sep">•</span> <a href="en/dictionary/error-costs-108946">Error costs</a> <span class="sep">•</span> <a href="en/dictionary/essential-facility">Essential facility</a> <span class="sep">•</span> <a href="en/dictionary/european-competition-network-ecn-en">European Competition Network (ECN)</a> <span class="sep">•</span> <a href="en/dictionary/excessive-prices-en">Excessive prices</a> <span class="sep">•</span> <a href="en/dictionary/exchange-of-information">Exchanges of information</a> <span class="sep">•</span> <a href="en/dictionary/exclusionary-practice">Exclusionary practice </a> <span class="sep">•</span> <a href="en/dictionary/Exclusive-distribution-12218">Exclusive distribution </a> <span class="sep">•</span> <a href="en/dictionary/exclusive-purchasing-en">Exclusive purchasing agreement</a> <span class="sep">•</span> <a href="en/dictionary/exclusive-right-art-106-tfeu">Exclusive right (Art. 106 TFEU)</a> <span class="sep">•</span> <a href="en/dictionary/exclusivity-clause">Exclusivity clause</a> <span class="sep">•</span> <a href="en/dictionary/Exhaustion">Exhaustion </a> <span class="sep">•</span> <a href="en/dictionary/Extra-territoriality">Extra-territoriality</a> </div> </div> </div> <div class="row entree" id="f"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">f</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/Failing-firm-defence">Failing firm defence</a> <span class="sep">•</span> <a href="en/dictionary/fidelity-rebates">Fidelity rebates</a> <span class="sep">•</span> <a href="en/dictionary/Fine">Fine</a> <span class="sep">•</span> <a href="en/dictionary/fintech">Fintech</a> <span class="sep">•</span> <a href="en/dictionary/foreclosure-117887">Foreclosure</a> <span class="sep">•</span> <a href="en/dictionary/foreign-direct-investment-fdi">Foreign direct investment (FDI)</a> <span class="sep">•</span> <a href="en/dictionary/foreign-subsidies">Foreign Subsidies</a> <span class="sep">•</span> <a href="en/dictionary/form-co">Form CO (EU) </a> <span class="sep">•</span> <a href="en/dictionary/frand">FRAND</a> <span class="sep">•</span> <a href="en/dictionary/Free-riding">Free riding </a> </div> </div> </div> <div class="row entree" id="g"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">g</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/geographic-market">Geographic market</a> <span class="sep">•</span> <a href="en/dictionary/corporate-group">Group of undertakings</a> <span class="sep">•</span> <a href="en/dictionary/group-purchasing-organization">Group purchasing organization</a> <span class="sep">•</span> <a href="en/dictionary/guidelines-119080">Guidelines</a> <span class="sep">•</span> <a href="en/dictionary/gun-jumping">Gun jumping</a> </div> </div> </div> <div class="row entree" id="h"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">h</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/hard-core-restrictions">Hard core restrictions</a> <span class="sep">•</span> <a href="en/dictionary/Hearing-officer">Hearing officer </a> <span class="sep">•</span> <a href="en/dictionary/horizontal-agreement">Horizontal cooperation agreement</a> <span class="sep">•</span> <a href="en/dictionary/hsr-filing-us-108854">HSR Filing (US)</a> </div> </div> </div> <div class="row entree" id="i"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">i</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/independence-and-impartiality">Independence and impartiality</a> <span class="sep">•</span> <a href="en/dictionary/individual-exemption-86377">Individual exemption</a> <span class="sep">•</span> <a href="en/dictionary/industrial-policy">Industrial policy</a> <span class="sep">•</span> <a href="en/dictionary/intellectual-property-right-en">Intellectual property right</a> <span class="sep">•</span> <a href="en/dictionary/inter-brand-competition">Inter-brand competition </a> <span class="sep">•</span> <a href="en/dictionary/Interim-measures">Interim measures </a> <span class="sep">•</span> <a href="en/dictionary/international-co-operation">International co-operation </a> <span class="sep">•</span> <a href="en/dictionary/international-competition-network-icn">International competition network (ICN) </a> <span class="sep">•</span> <a href="en/dictionary/investigations-inquiries-en">Investigations / inquiries</a> </div> </div> </div> <div class="row entree" id="j"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">j</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/judicial-review">Judicial review</a> </div> </div> </div> <div class="row entree" id="k"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">k</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/Know-how">Know-how </a> </div> </div> </div> <div class="row entree" id="l"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">l</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/legal-privilege">Legal privilege</a> <span class="sep">•</span> <a href="en/dictionary/Leniency-programme">Leniency</a> <span class="sep">•</span> <a href="en/dictionary/lerner-index">Lerner index</a> <span class="sep">•</span> <a href="en/dictionary/letter-of-formal-notice-118055">Letter of formal notice </a> <span class="sep">•</span> <a href="en/dictionary/licensing">Licensing</a> <span class="sep">•</span> <a href="en/dictionary/limitation-period-119083">Limitation Period </a> </div> </div> </div> <div class="row entree" id="m"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">m</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/margin-squeeze">Margin squeeze</a> <span class="sep">•</span> <a href="en/dictionary/marginal-costs">Marginal costs </a> <span class="sep">•</span> <a href="en/dictionary/market-economy-investor">Market economy investor</a> <span class="sep">•</span> <a href="en/dictionary/market-power">Market power</a> <span class="sep">•</span> <a href="en/dictionary/market-share">Market share </a> <span class="sep">•</span> <a href="en/dictionary/media-pluralism">Media pluralism</a> <span class="sep">•</span> <a href="en/dictionary/merger-notion-12318-en">Merger (notion)</a> <span class="sep">•</span> <a href="en/dictionary/merger-prohibition">Merger (prohibition)</a> <span class="sep">•</span> <a href="en/dictionary/merger-withdrawal-118046">Merger (withdrawal)</a> <span class="sep">•</span> <a href="en/dictionary/Merger-control-procedure">Merger control procedure </a> <span class="sep">•</span> <a href="en/dictionary/merger-remedies-100323">Merger remedies</a> <span class="sep">•</span> <a href="en/dictionary/minority-shareholdings-89176">Minority shareholdings</a> <span class="sep">•</span> <a href="en/dictionary/misinformation">Misinformation</a> <span class="sep">•</span> <a href="en/dictionary/mobility-barriers-117741">Mobility Barriers</a> <span class="sep">•</span> <a href="en/dictionary/Monopoly">Monopoly </a> </div> </div> </div> <div class="row entree" id="n"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">n</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/ne-bis-in-idem-86490">Ne bis in idem</a> <span class="sep">•</span> <a href="en/dictionary/negative-clearance-118047">Negative clearance</a> <span class="sep">•</span> <a href="en/dictionary/Network-effect">Network effect </a> <span class="sep">•</span> <a href="en/dictionary/non-compete-obligation-12156-en">Non-compete obligation </a> <span class="sep">•</span> <a href="en/dictionary/non-horizontal-mergers">Non-Horizontal Mergers </a> <span class="sep">•</span> <a href="en/dictionary/notification-12310">Notification</a> <span class="sep">•</span> <a href="en/dictionary/nullity">Nullity </a> </div> </div> </div> <div class="row entree" id="o"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">o</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/oligopoly">Oligopoly </a> <span class="sep">•</span> <a href="en/dictionary/online-platforms">Online Platforms</a> </div> </div> </div> <div class="row entree" id="p"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">p</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/parallel-imports-parallel-trade-en">Parallel imports (parallel trade)</a> <span class="sep">•</span> <a href="en/dictionary/passing-on-en">Passing-on</a> <span class="sep">•</span> <a href="en/dictionary/Passive-sales">Passive sales </a> <span class="sep">•</span> <a href="en/dictionary/patents">Patents</a> <span class="sep">•</span> <a href="en/dictionary/pay-for-delay">Pay-for-delay</a> <span class="sep">•</span> <a href="en/dictionary/periodic-penalty-payment">Periodic penalty payment</a> <span class="sep">•</span> <a href="en/dictionary/potential-competition">Potential competition </a> <span class="sep">•</span> <a href="en/dictionary/predatory-pricing">Predatory pricing</a> <span class="sep">•</span> <a href="en/dictionary/preliminary-rulings-art-267-tfue">Preliminary ruling (Art. 267 TFUE) </a> <span class="sep">•</span> <a href="en/dictionary/price-discrimination-en">Price discrimination </a> <span class="sep">•</span> <a href="en/dictionary/price-leadership">Price leadership</a> <span class="sep">•</span> <a href="en/dictionary/price-signaling">Price signalling</a> <span class="sep">•</span> <a href="en/dictionary/price-fixing-agreement">Price-fixing agreement</a> <span class="sep">•</span> <a href="en/dictionary/prices-en">Prices</a> <span class="sep">•</span> <a href="en/dictionary/principle-of-equal-treatment">Principle of equal treatment</a> <span class="sep">•</span> <a href="en/dictionary/principle-of-equivalence">Principle of equivalence</a> <span class="sep">•</span> <a href="en/dictionary/principle-of-proportionality">Principle of proportionality</a> <span class="sep">•</span> <a href="en/dictionary/privacy-and-data-protection">Privacy and data protection</a> <span class="sep">•</span> <a href="en/dictionary/private-enforcement">Private enforcement</a> <span class="sep">•</span> <a href="en/dictionary/privatization-en">Privatization</a> <span class="sep">•</span> <a href="en/dictionary/procedural-autonomy">Procedural autonomy</a> <span class="sep">•</span> <a href="en/dictionary/professional-association-86373-en">Professional association</a> <span class="sep">•</span> <a href="en/dictionary/public-procurement">Public procurement</a> <span class="sep">•</span> <a href="en/dictionary/Public-undertaking">Public undertaking</a> </div> </div> </div> <div class="row entree" id="r"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">r</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/r-d-agreement">R&D agreement</a> <span class="sep">•</span> <a href="en/dictionary/case-referral-system-mergers">Referral (merger)</a> <span class="sep">•</span> <a href="en/dictionary/refusal-to-deal">Refusal to deal</a> <span class="sep">•</span> <a href="en/dictionary/the-registry-of-the-general-court-of-the-european-union">Registry of the General Court of the European Union</a> <span class="sep">•</span> <a href="en/dictionary/Relevant-market">Relevant market</a> <span class="sep">•</span> <a href="en/dictionary/remedies-antitrust-en">Remedies (antitrust)</a> <span class="sep">•</span> <a href="en/dictionary/request-for-information">Request for information</a> <span class="sep">•</span> <a href="en/dictionary/resale-below-cost-en">Resale below cost </a> <span class="sep">•</span> <a href="en/dictionary/resale-price-maintenance-rpm">Resale price maintenance (RPM)</a> <span class="sep">•</span> <a href="en/dictionary/restriction-on-exportation">Restriction on exportation </a> <span class="sep">•</span> <a href="en/dictionary/rule-of-reason">Rule of reason</a> </div> </div> </div> <div class="row entree" id="s"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">s</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/sunk-costs-117836"> Sunk Costs </a> <span class="sep">•</span> <a href="en/dictionary/sector-inquiry">Sector inquiry</a> <span class="sep">•</span> <a href="en/dictionary/selective-distribution">Selective distribution </a> <span class="sep">•</span> <a href="en/dictionary/self-preference-111802">Self-Preference</a> <span class="sep">•</span> <a href="en/dictionary/Services-of-general-economic">Services of general economic interest </a> <span class="sep">•</span> <a href="en/dictionary/Single-branding">Single branding </a> <span class="sep">•</span> <a href="en/dictionary/sole-control">Sole control</a> <span class="sep">•</span> <a href="en/dictionary/specialization-agreements">Specialization agreements </a> <span class="sep">•</span> <a href="en/dictionary/Spill-over-effects">Spill-over effects </a> <span class="sep">•</span> <a href="en/dictionary/standard-essential-patent-sep">Standard-Essential Patent (SEP)</a> <span class="sep">•</span> <a href="en/dictionary/state-action-defense">State action defence</a> <span class="sep">•</span> <a href="en/dictionary/state-aid-compatibility">State aid (compatibility)</a> <span class="sep">•</span> <a href="en/dictionary/state-aid-existing-aid">State aid (existing aid) </a> <span class="sep">•</span> <a href="en/dictionary/state-aid-notification-en">State aid (notification)</a> <span class="sep">•</span> <a href="en/dictionary/state-aid">State aid (notion)</a> <span class="sep">•</span> <a href="en/dictionary/state-aid-recovery">State aid (recovery) </a> <span class="sep">•</span> <a href="en/dictionary/state-aid-unlawful-aid">State aid (unlawful aid) </a> <span class="sep">•</span> <a href="en/dictionary/State-measure">State measure </a> <span class="sep">•</span> <a href="en/dictionary/Statement-of-objections-SO">Statement of objections (SO) </a> <span class="sep">•</span> <a href="en/dictionary/Substitutability">Substitutability </a> <span class="sep">•</span> <a href="en/dictionary/sustainability">Sustainability</a> <span class="sep">•</span> <a href="en/dictionary/switching-costs">Switching Costs</a> </div> </div> </div> <div class="row entree" id="t"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">t</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/technology-transfer">Technology transfer</a> <span class="sep">•</span> <a href="en/dictionary/test-siec-merger-en">Test SIEC (merger)</a> <span class="sep">•</span> <a href="en/dictionary/merger-slc-src-sdc-tests">Test SLC (merger)</a> <span class="sep">•</span> <a href="en/dictionary/tipping">Tipping</a> <span class="sep">•</span> <a href="en/dictionary/business-secrets">Trade Secrets</a> <span class="sep">•</span> <a href="en/dictionary/trademark">Trademark</a> <span class="sep">•</span> <a href="en/dictionary/trustee-mergers-en">Trustee (mergers)</a> <span class="sep">•</span> <a href="en/dictionary/turnover-threshold-merger">Turnover threshold (merger)</a> <span class="sep">•</span> <a href="en/dictionary/two-sided-market">Two-sided market</a> </div> </div> </div> <div class="row entree" id="u"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">u</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/undertaking-notion">Undertaking (notion)</a> <span class="sep">•</span> <a href="en/dictionary/unfair-competition">Unfair competition</a> <span class="sep">•</span> <a href="en/dictionary/universal-service-118054">Universal Service</a> <span class="sep">•</span> <a href="en/dictionary/upstream-market">Upstream market </a> </div> </div> </div> <div class="row entree" id="v"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">v</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/variable-costs">Variable costs </a> <span class="sep">•</span> <a href="en/dictionary/Vertical-agreement">Vertical agreement</a> <span class="sep">•</span> <a href="en/dictionary/vertical-restraints-or-restrictions">Vertical restraints (or restrictions)</a> </div> </div> </div> <div class="row entree" id="w"> <div class="col-xs-2 col-sm-1"> <h2 class="lettre">w</h2> </div> <div class="col-xs-10 col-sm-11"> <div class="articles"> <a href="en/dictionary/White-clause">White clause</a> <span class="sep">•</span> <a href="en/dictionary/withdrawal-of-the-benefit-of-a-block-exemption">Withdrawal (of the benefit of a block exemption)</a> </div> </div> </div> </div> </div> </article> <script type="text/javascript"> jQuery(function(){ // hack on appelle 1 scrollspy sur body et 1 sur window pour pas les melanger jQuery(window).scrollspy({ target: '#menu-definition', offset: 130 }); jQuery('body').scrollspy({ target: '#definition-index', 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