CASE COMMENTS: CARTELS – EUROPEAN UNION – ECONOMIC UNIT – PRESUMPTION – VOTING RIGHTS

Economic unit: The Court of Justice of the European Union confirms, on the one hand, that an investment bank can be liable for the anticompetitive conduct of one of its portfolio company and, on the other hand, that the European Commission may rely on the presumption of control when one company holds the entirety of the voting rights in the managing board of another company despite holding not all or almost all of the shares in the capital of the latter (Goldman Sachs)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. Investing in a company is a high-risk financial activity. No one is unaware of this, and neither are the bankers at Goldman Sachs, who have a much better grasp of the workings of global finance than we do. Traditionally, the aim is to increase the economic profitability of the target company in order to receive generous dividends or to make a comfortable capital gain when the shares acquired are resold. However, investing in a company also presents a high competitive risk that Goldman Sachs ' bankers may have at least overlooked, if not ignored. Being an investment bank is not enough to absolve itself of any liability resulting from a target company's

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  • European Court of Justice (Luxembourg)

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Etienne Thomas, Economic unit: The Court of Justice of the European Union confirms, on the one hand, that an investment bank can be liable for the anticompetitive conduct of one of its portfolio company and, on the other hand, that the European Commission may rely on the presumption of control when one company holds the entirety of the voting rights in the managing board of another company despite holding not all or almost all of the shares in the capital of the latter (Goldman Sachs), 27 January 2021, Concurrences N° 2-2021, Art. N° 100510, pp. 71-73

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