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On 6 September 2017, the Court of Justice of the European Union ("CJEU" or "Court") essentially held in Intel  that the European Commission ("Commission") cannot consider rebates, and in particular loyalty rebates, as per se illegal. Rather, the Commission needs to show that a specific rebates scheme is capable of restricting competition before finding a company liable for abuse of a dominant position under Article 102 TFEU. In doing so, the Commission is required to examine all the circumstances of the case and conduct the as-efficient competitor ("AEC") test. The CJEU also implicitly rejected the view that loyalty rebates are not pricing practices and as such subject to a less demanding test of restriction of competition than pricing practices. Instead, the Court makes clear that
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