**Judgment of the General Court (Sixth Chamber) of 13 September 2010 – Éditions Jacob v Commission**

**(Case T-279/04)**

Competition – Concentrations – French-language publishing – Decision declaring the concentration compatible with the common market subject to sale of assets – Action for annulment brought by an unsuccessful prospective purchaser – Duty to state reasons – Fraud – Error of law – Manifest error of assessment – Regulation (EEC) No 4064/89

1.                     *Actions for annulment – Actionable measures – Concept – Measures producing binding legal effects – Preparatory measures –
Not included – Commission decision to initiate in-depth examination of a concentration operation (Art. 230 EC; Council Regulation
No 4064/89, Art. 6(1)(c)) (see para. 89)*

2.                     *Competition – Concentrations – Assessment of compatibility with the common market – Nature of control, single or joint, exercised
over an undertaking to be taken into account – Criteria for assessment – Holding of assets operation prior to authorisation
of the concentration by the Commission – Possibility of exercising a determinant influence over the business connected with
the assets – None – Acquisition of assets with a view to their resale (Council Regulation No 4064/89, Arts 3 and 4) (see paras
116-118, 125, 132, 138-140, 142, 144, 150, 153)*

3.                     *Competition – Concentrations – Examination by the Commission – Operation carried out before being notified – Consequences
– Possibility of the Commission declaring the operation incompatible with the common market – Possibility of the Commission
revoking a decision declaring the concentration compatible – None – Failure to notify capable of being penalised by the imposition
of a fine (Council Regulation No 4064/89, Arts 6 to 8 and 14) (see paras 156-161, 201-202)*

4.                     *Competition – Concentrations – Notification – Obligation – Scope – Holding of assets operation not constituting a concentration
– Not included (Council Regulation No 4064/89, Arts. 1(1), 4(1) and (7)(1)) (see paras 171, 231-232)*

5.                     *Competition – Concentrations – Examination by the Commission – Revocation of a decision authorising a concentration operation
– Criteria – Decision fraudulently obtained – Concentration operation classified as acquisition of shareholdings on a temporary
basis – Requirement for demonstration that control acquired (Council Regulation No 4064/89, Arts 3(1)(b) and (5)(a) and 8(5)(a))
(see paras 191-194)*

6.                     *Acts of the institutions – Statement of reasons – Obligation – Scope – Decision to apply rules on concentrations between undertakings
– Decision authorising a concentration operation – Scope (Council Regulation No 4064/89, Art. 8(2)) (see paras 226-228, 233-234)*

7.                     *Competition – Concentrations – Examination by the Commission – Economic assessments – Discretion – Judicial review – Limits
(Council Regulation No 4064/89, Art. 2) (see paras 248-249)*

8.                     *Competition – Concentrations – Assessment of compatibility with the common market – Creation or strengthening of a dominant
position – Evidence – Modification of the initial position of the parties on the affected markets – Consequences of a sale
of assets – Overall turnover figures of the parties to the operation – Not included (Council Regulation No 4064/89, Arts 2(3)
and 8(3)) (see paras 284-286, 288)*

9.                     *Competition – Concentrations – Examination by the Commission – Definition of the market in question – Criteria – Substitutability
of products – Structure of supply and demand – Transversal effect of a concentration taken into account (Council Regulation
No 4064/89) (see paras 302-306)*

10.                     *Competition – Concentrations – Assessment of compatibility with the common market – Point in time to be taken into consideration
– Point at which the operation notified – No obligation to take into consideration the risk of agreements restricting competition
being concluded following the concentration (Council Regulation No 4064/89, Art. 2) (see paras 326-327, 338)*

11.                     *Competition – Concentrations – Examination by the Commission – Commitments by the undertakings concerned to render the notified
transaction compatible with the common market – Undertaking to sell assets – Selection criteria of the buyer – Current or
potential competitor – Independence, financial resources and competences confirmed – Sale of assets to a financial buyer –
Lawfulness (Council Regulation No 4064/89; Commission Communication on corrective measures admissible in accordance with Regulations
Nos 4064/89 and 447/98, para. 49) (see paras 340-346)*

**Re:**

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| | APPLICATION for the annulment of Commission Decision 2004/422/EC of 7 January 2004 declaring a concentration to be incompatible with the common market and the functioning of the EEA Agreement (Case COMP/M.2978 – Lagardère/Natexis/VUP) (OJ 2004 L 125, p. 54). |

**Operative part**

The Court:

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| 1. | | Dismisses the action; |

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| 2. | | Orders Éditions Odile Jacob SAS to bear its own costs and to pay the costs of the European Commission and Lagardère SCA. |