commiss decis june declar concentr incompat common market case iv blokker toi notifi document number english text authent text eea relev ec commiss european commun regard treati establish european commun regard agreement european econom area articl thereof regard council regul eec decemb control concentr undertak amend act access austria finland sweden articl articl thereof regard commiss decis februari initi proceed case undertak concern opportun make view object rais commiss regard opinion advisori committe concentr procedur consider concern request receiv commiss januari dutch govern pursuant articl regul eec merger regul examin acquisit dutch oper toi blokker agreement implement agreement underli oper sign parti form exchang letter decemb letter januari transact notifi dutch author februari commiss adopt decis articl conjunct articl merger regul find request admiss accord articl request made month period provid articl concentr rais doubt compat common market parti blokker hold bv blokker major retail oper netherland princip activ retail trade household articl toi product blokker oper retail chain owner shop franchis agreement blokker oper wholli own toi shop bart smit trade mark toi shop intertoi trade mark franchis individu oper blokker sell broad assort toi household articl store outlet blokker marskram familux trade mark shop franchis total turnov blokker ecu million blokker activ member state oper blokker household store belgium luxembourg germani franc bart smit store belgium intertoi store germani toi world biggest toi retail activ member state european commun worldwid turnov toi ecu million toi netherland bv wholli own subsidiari toi achiev total turnov ecu million undertak hereinaft jointli refer toi ii oper oper set agreement decemb refer letter agreement implement set agreement master leas agreement asset purchas agreement franchis agreement market subsidi agreement store oper toi blokker take store alkmaar utrecht breda beek muiden rotterdam de boog store arnhem rotterdam zuidplein eindhoven oper blokker temporari oper agreement close tenant found premis agreement reach respect landlord transact conclud februari date blokker start oper toi store speelhoorn bv wholli own subsidiari blokker leas toi premis shop alkmaar utrecht breda beek rotterdam de boog leas toi netherland bv speelhoorn leas shop muiden toi own toi respect leas term end year respect leas case muiden leas valid long franchis agreement effect floor capac store reduc approxim remain space leas squar metr toi amount rent blokker pai toi amount toi pai respect landlord blokker purchas toi netherland bv asset inventori store cash regist comput system blokker pai toi nlg inventori amount nlg call asset fixtur furnitur blokker take employ contract personnel store franchis agreement blokker exclus trade mark toi system netherland toi develop requir type qualiti categori mix item carri blokker add product categori sold toi store free determin individu product categori respect price term franchis year franchise renew agreement term year provid franchise commit materi breach agreement franchis fee net sale franchise pai servic fee merchandis procur connect coordin purchas franchis agreement blokker purchas toi toi central bui oper agreement merchandis offer sale franchise franchis store iii concentr parti argu oper concentr mean merger regul state franchis agreement nucleu transact agreement ancillari agreement facilit execut franchis agreement blokker obtain control mean merger regul blokker gain secur tenur franchise typic franchis agreement argu franchis agreement assess articl ec treati commiss regul eec franchis block exempt regul element concentr articl merger regul concentr aris undertak acquir direct indirect control part undertak articl defin element control constitu right contract mean confer possibl exercis decis influenc undertak ownership part asset undertak control purpos merger regul mean possibl exercis decis influenc undertak acquisit control limit case legal entiti happen acquisit asset situat asset question constitut busi market turnov attribut mere fact franchis agreement part oper exclud oper applic merger regul decis question set agreement conclud toi blokker give blokker control toi busi remain dutch market shop close temporarili oper part concentr blokker acquir control last basi oper blokker take asset leas fixtur inventori personnel brand make busi toi netherland busi turnov attribut oper lead last chang structur undertak concern agreement underli oper long last natur toi repeatedli state decid leav dutch market choos buyer busi fact blokker oper store franchise factor milit exercis control blokker franchis agreement confer toi right lead assess toi retain control busi franchise select product categori determin price sold blokker confirm letter februari agreement toi add product categori sold toi store garden furnitur christma item blokker state creat shop formula differ essenti exist toi concept confirm blokker gain control dai dai oper blokker determin concept shop toi longer determin busi cede influenc blokker blokker acquir control part undertak mean articl oper constitut concentr mean articl merger regul iv commun dimens combin worldwid turnov parti exce ecu million worldwid turnov blokker ecu million turnov toi netherland bv attribut shop blokker estim toi ecu million concentr commun dimens mean articl merger regul effect trade member state articl merger regul requir concentr affect trade member state proport toi sold blokker group gener dutch market import netherland member state addit oper major product sold toi provid german organis oper longer case blokker obtain product varieti sourc includ direct import manufactur east dutch import sale offic addit acquisit toi store blokker increas barrier entri entrant dutch market toi includ entrant member state chang structur dutch specialis toi retail market set appreci influenc directli indirectli potenti pattern trade member state vi compat common market toi retal netherland market inform retail toi rang product gener sold toi retail outlet includ princip product categori babi toddler toi puppet cuddli toi plai anim construct toi board game puzzl assembl kit outdoor plai item listen toi hobbi articl call classic toi electron toi comput game video game abovement categoris toi sold retail outlet market studi gener accept toi industri confirm commiss investig retail supplier toi publicli studi provid inform total sale toi netherland publish eim centr retail research gfk interact studi give estim total retail sale toi netherland estim import retail channel toi sold final consum studi declin total sale toi recent year gfk studi number toi sold netherland show slight increas year averag price toi item decreas lead decreas total specif featur toi retail highli season charact yearli sale realis period octob decemb characterist featur dutch market respect saint nichola period start novemb high point even decemb annual peak sale occur earlier netherland neighbour countri specif featur dutch market amount monei spent toi child netherland approxim lower averag western europ total sale eim centr retail research estim total toi sale netherland nlg million ecu million eim definit figur cover classic toi electron comput game cover cd rom children video eim base find product statist dutch centraal bureau voor de statistiek estim gfk market studi estim total sale toi netherland nlg million ecu million gfk studi cover categori toi includ electron video game cover children video cd rom market studi base consum panel peopl question regularli expenditur toi studi cover purchas nlg ecu person older year major supplier lego mattel state gfk figur cover total sale base assumpt total sale estim nlg million ecu million commiss receiv market studi lego state size total sale amount nlg million market studi cover children video cd rom relev product market parti concern oper activ retail broad assort toi specialis toi shop shop specialis toi depart netherland toi sold part specialis toi shop carri broad assort toi product year addit toi sold retail channel drugstor petrol station supermarket electron comput shop cash carri wholesal mail order compani view commiss relev market market retail outlet sell broad assort toi final consum year netherland outlet includ specialis toi shop shop specialis toi depart depart store household articl store outlet refer specialis toi outlet contrast parti argu relev market defin broadli includ distribut channel toi sold final consum parti submit exclus outlet arbitrari parti argu sale product cd audio applianc comput children videotap sport articl includ definit relev market product sold specialis toi shop outlet parti refer studi prepar lego studi relev market defin product servic request children leisur time approach refer concept children list parti state criterion market definit children entertain charact product parti cite exampl fact sport shoe cd rom comput game fi equip perceiv children perfect substitut tradit toi concept defin relev market children list accept commiss servic includ retail merger regul relev product market compris product servic substitut consum reason characterist price intend market definit restrict retail product entertain charact includ retail product competit take place market relev market retail context defin option consum spend specialis toi outlet distinguish retail channel carri year broad assort toi product specif aim children specialis outlet enabl consum make choic broad assort toi state hear specialis toi retail carri rang toi product select aim attract consum store broad assort includ product categori babi toddler toi puppet cuddli toi plai anim construct toi board game puzzl assembl kit outdoor plai item listen toi hobbi articl call classic toi electron toi comput game video game abovement categoris toi market studi gener accept toi industri confirm commiss investig retail supplier toi specialis toi retail outlet distinct featur publish special toi catalogu saint nichola sale period netherland annual peak sale catalogu catalogu publish drugstor kruidvat toi catalogu toi ey catcher toi product make small percentag number product advertis composit assort toi product vari specialis toi retail outlet put emphasi categori select product categori due dynam market introduct toi rel weight product categori chang time product electron game video game enter rang mainstream product categori recent year respect recent develop cd rom children introduc toi shop specif featur toi retail netherland major sale toi concentr specialis outlet outlet comput shop electron shop carri video game comput game categori assort specialis toi retail outlet distribut channel supermarket drugstor carri limit number product part rang consum good supermarket carri toi small select small item price level similarli drugstor offer limit select brand supplier drugstor chain kruidvat highest turnov drugstor carri item brand lego fisher price barbi perman basi item sold temporari basi consider toi depart blokker household shop carri toi item petrol station shell carri limit number brand product instanc lego temporari basi product packag specif outlet question differ slightli product specialis toi outlet distribut channel toi mean attract consum traffic sale product impuls purchas contrast consum specialis toi outlet expect choic broad assort toi find item product categori sale small select brand product toi outlet influenc price similar product specialis toi retail outlet regard fulli fledg competitor outlet view confirm toi retail parti argu hypermarket maxi cash carri wholesal makro includ relev market maxi carri broad assort compar blokker store consid part relev market makro wholesal principl open gener public sale mail order compani neglig assort product specialis toi retail outlet includ product book sport articl watch outlet comput commonli found outlet competit item larg take place neighbour retail market fact small number item sold specialis toi retail outlet affect conclus reason includ product assess competit specialis toi retail outlet event make substant differ assess case children videotap sold varieti outlet includ specialis toi retail outlet question consid toi decis case product categori left open relev geograph market earlier decis retail oper commiss gener view retail market defin nation circumst catchment area retail outlet base distanc consum travel reach local region scale catchment area necessarili determin geograph market situat retail chain oper network store nation scale import paramet competit determin nation scale viewpoint catchment area local region market aggreg nation market circumst specialis toi retail market netherland characteris chain oper countri wide basi blokker toi oper retail outlet nation case toi intern store concept concept import paramet competit determin central level chain price decis toi sold store belong blokker group determin central level chain blokker intertoi shop oper franchis agreement bound price determin central level franchise blokker intertoi oblig inform manag chain local competit central manag decid react local competit member otto simon bound central recommend price follow price advertis retail carri nation scale catalogu flyer appear distribut countri product rang chain retail outlet belong blokker group determin central level chain chain oper blokker activ member state bart smit blokker belgium intertoi germani toi formula oper larg part europ geograph market defin basi wider nation market consum prefer habit differ member state catalogu retail publish distribut nation scale poor perform toi netherland introduc dutch market german toi concept product rang select german market good show dutch specialis toi retail market nation effect concentr structur suppli relev market blokker group blokker group oper chain specialis toi shop bart smit intertoi bart smit shop own blokker intertoi chain compris shop oper franchis agreement wholli own blokker sell assort toi chain household articl blokker marskram familux total toi sold blokker shop shop own blokker oper franchis agreement marskram familux formula blokker oper shop oper franchis own posit blokker toi retail larg part result acquisit blokker group acquir bart smit blokker group acquir intertoi marskram familux earlier minor interest toi toi enter dutch market introduc concept toi retail call megastor town locat toi oper megastor netherland extens floor size store carri largest rang toi product product rang toi product includ bicycl nappi babi food otto simon group otto simon bv wholli own subsidiari otto simon beheer bv belong german vede group member otto simon system independ retail otto simon offer member joint purchas accept del creder risk market support servic otto simon oper formula specialis toi shop de speelboom specialis toi shop carri broad product rang shop wigwam shop shop concept oper combin outlet household shop book shop drugstor carri smaller rang toi shop techno hobbi chain specialis model train radio control toi miniatur car model construct set shop otto simon oper specialis toi shop earli learn centr master franchis agreement shop carri broad rang toi educ children ag year den olif den olif franchis chain small specialis toi shop oper store netherland depart store hypermarket netherland import chain depart store specialis toi depart vroom amp dreesmann store sell toi own vendex intern de bijenkorf store hema store own koninklijk bijenkorf beheer kbb hypermarket netherland maxi oper store independ specialis toi outlet number small independ specialis toi shop independ household articl shop oper substanti declin addit number smaller independ depart store sell toi ii market share relev market commiss defin relev product market retail toi specialis toi retail outlet order determin market share parti activ relev market commiss questionnair suppli retail size total market rel import distribut channel actual turnov figur parti activ relev market commiss determin market share main player market combin market share remain independ specialis toi shop independ household articl store independ depart store estim sale relev market imposs obtain turnov figur outlet figur base gfk market studi base aggreg actual turnov figur parti activ relev market estim combin market share independ oper sale relev market estim nlg million ecu million market share parti relev market calcul basi actual turnov figur set tabl figur chang substanti year gt tabl gt calcul blokker market share chain blokker bart smit intertoi blokker chain commerci polici regard purchas determin product rang retail price lead conclus blokker bart smit intertoi independ undertak decis chain oper control competit behaviour chain blokker argu coordin purchas chain appear commiss investig degre coordin chain respect purchas condit exist number suppli state blokker chain make purchas separ price condit fix addit number supplier state oper bonu system bonus base aggreg purchas volum blokker chain blokker group make purchas group confirm blokker iii posit blokker prior oper market share basi commiss investig prior oper blokker group held market share specialis toi retail market high market share creat presumpt domin compar fragment structur rest market nearest competitor otto simon time smaller blokker vroom dreesmann amp lt amp lt toi similar posit market player market share significantli formula divers prior oper blokker oper formula specialis toi retail outlet locat citi centr shop street urban shop centr bart smit found larger medium size suppli area intertoi found smaller citi commun averag size store exce bart smit intertoi offer larg complet product rang due high leas cost retail space citi centr shop centr result small store chain focu articl popular time toi depart blokker store carri smaller product rang bart smit intertoi store blokker store sell video game pc softwar product assort bart smit intertoi blokker formula differ extent confirm blokker commiss investig catalogu chain chain carri extens rang toi product fact blokker oper distinct formula vari product assort competit advantag differ product rang reduc transpar price vi vi competitor consum enabl blokker initi react product price level chain group increas flexibl vi vi competitor market scale economi unbrand brand product dutch toi retail market proport unbrand brand product directli purchas east higher neighbour countri competitor blokker chain reput carri larg proport unbrand brand product blokker state direct purchas east includ brand product higher proport unbrand brand product dutch market explain parti high cost retail due expens high street locat result parti state retail tend compens lower margin brand product price harmonis supplier european level higher margin unbrand brand product fact blokker carri larg proport unbrand brand directli purchas brand product combin high market share enabl realis economi scale purchas achiev competitor economi scale confer blokker signific competit advantag high volum unbrand brand product enabl blokker behav independ market relat price strategi subject direct price comparison competitor custom brand product parti argu price unbrand product determin price similar compet brand product result blokker restrict price strategi unbrand product unbrand brand product gener sold price higher compet product leav blokker consider scope independ price behaviour gatekeep function blokker regard posit blokker supplier confirm result high market share blokker gatekeep function concern access toi retail market introduc toi product market supplier access import distribut channel order realis critic sale volum recov invest radio televis commerci largest supplier state access support minimum current blokker formula success strateg product launch media support order recov cost introduct product market larg supplier state introduc product dutch market blokker outlet blokker influenc rang product introduc dutch market state number competitor complain unabl make purchas decis product line independ blokker parti argument price parti argu price low netherland dutch consum price consciou state indic blokker hold domin posit commiss acknowledg averag toi item sold dutch market lower neighbour market parti state price level brand product harmonis european level suppos low averag price toi item concern unbrand brand product make larg proport toi sale netherland price comparison paramet exist largest supplier mention addit explan dutch habit give small present saint nicola big present iv posit competitor otto simon state aggreg market share otto simon formula blokker group addit structur otto simon group loos shop differ appear member speelboom formula necessarili give impress belong chain central organis otto simon oper common purchas system advis product rang offer support servic member free determin product rang flexibl advantag enabl member adopt individu market strategi loos organis combin small market share limit possibl otto simon group carri sustain competit strategi blokker group otto simon otto simon member left otto simon formula join intertoi formula blokker group blokker point acquisit intertoi made blokker signific minor stake intertoi blokker view strengh competit otto simon group illustr remark mr blokker chairman board blokker interview publish busi magazin quot decemb state time busi convert number shop otto simon member belief don opt intertoi face risk shop door note context blokker sell toi household articl shop flexibl open toi depart store consid toi toi enter dutch market oper store netherland toi concept base merchandis logist system ensur broad product rang stock concept critic mass sale order econom viabl toi critic mass sale number store need achiev accept return achiev smaller european market netherland strategi toi oper smaller market expand neighbour bigger market exist infrastructur bigger market toi oper manag suppli german toi subsidiari copi german toi concept netherland chang product rang toi underestim signific differ prefer dutch german consum advers effect sale netherland addit common knowledg year oper toi fulli awar specif dutch saint nichola dai peak toi sale netherland store appear emphasis christma saint nichola toi suffer structur weak made market error sever limit abil compet strongli dutch market weak recognis blokker market gener toi light toi develop signific competit forc dutch market depart store specialis outlet depart store combin market share part major retail oper market share relev market small depart store toi consid compon product rang offer store small market share abil compet limit oper relev market market share consider lower characteris specialis nich player lack possibl intent compet retail carri broader rang competit pressur outlet commiss acknowledg extent specialis toi retail outlet face competit outlet sell toi toi season state toi sold part specialis toi retail outlet reaction request dutch govern estim import outlet total sale blokker estim percentag maximum total sale call classic toi product retail outlet success sale individu classic toi product retail outlet sell broad assort toi offer individu item limit number product supplier product attract consum traffic offer attract price intend bought impuls purchas shell sold consider number lego product petrol station drugstor chain kruidvat sell lego product barbi doll fisher price articl perman basi brand item action sale sale competit effect similar product offer specialis toi retail outlet effect posit specialis toi retail outlet limit extent sale temporari natur competit effect limit time competit drugstor supermarket petrol station regard suffici counteract market power blokker relev market electron videogam wide retail channel comput shop electron shop record shop sale item outlet affect price item specialis toi retail outlet blokker competit effect sale concern categori broad assort specialis toi retail outlet make total turnov outlet bart smit intertoi retail outlet blokker import vendor product conclus basi forego commiss view prior concentr blokker domin posit market specialis toi retail outlet posit blokker oper market share market share toi oper store netherland estim toi shop blokker account total turnov lead market share combin blokker toi oper netherland lead combin market share calcul increas market share blokker group includ increas market share gain shop close expect signific part market share store obtain exist chain blokker remain toi store actual combin market share oper higher parti argu increas market share insignific consid strengthen domin posit state irrespect transact approv accret market share insuffici effect meaning chang competit structur market view commiss combin increas market share number factor demonstr potenti acquir busi greater reflect actual market share strenghten domin posit blokker strateg complementar toi blokker acquisit toi store blokker add fourth formula exist toi formula fourth formula distinct formula control blokker group respect locat size product rang toi formula consist megastor substanti floor space locat citi centr urban shop centr easili access car toi sell toi supermarket environ aim effici shop servic gift wrap extens floor space toi store offer larg product rang toi widest choic includ widest rang brand toi bulki toi product toi formula appli toi child relat product nappi babi food babi furnitur product mean attract consum increas frequenc consum visit store distinct featur toi part wareh store toi claim guarante product stock toi megastor locat peripher suburban locat acquisit blokker easi access market segment larg scale suburban retail consid great import futur retail assess made major supplier result blokker import mover advantag dutch government polici larg scale retail relax recent larg scale suburban retail product toi restrict urban agglomer centr stedelijk knooppunten date toi specialis toi retail oper market segment franchis agreement permit blokker purchas toi central bui oper sale franchise franchis store blokker addit advantag valuabl extent appli toi store directli blokker chain parti claim blokker entitl central bui oper outlet toi outlet interpret support word franchis agreement parti claim joint purchas limit import repres toi store sale argument negat potenti joint purchas acquir control toi formula blokker seek ensur greatest complementar formula respect product rang price blokker toi imag attract price attract consum citi centr seek prevent actual competit toi store bart smit intertoi store select low price strategi product sold toi store complementari product rang strategi fact blokker carri larg proport unbrand good increas possibl carri strategi respect note franchis agreement blokker consider freedom product categori toi potenti toi blokker group dutch toi oper market success difficult financi posit formula store consider market potenti hand blokker knowledg dutch market toi strong brand toi reput broadest product rang attract price situat local partner act franchise toi store store link network store world largest toi retail profit servic provid network brand fact toi oper lead player market bring number signific advantag toi specif blokker bring extens knowledg specif prefer habit consum nation market entitl select product suit prefer dutch consum blokker face structur weak toi make market error addit advantag economi scale includ discount appli toi benefit advantag link major dutch retail access advertis personnel manag support servic clean secur conclud toi control local partner requir knowledg nation market perform significantli date show substanti growth market share potenti expans number store argument born statement toi cite success partnership local distributor member state poor perform toi smaller market limit dutch market similar situat occur sweden denmark toi oper sweden denmark start origin manag suppli unit kingdom oper denmark store sweden store achiev financi return requir toi oper transfer local retail oper franchis agreement franchis oper introduc market specif merchandis assort sale store significantli sweden denmark denmark number store increas year vi comment supplier investig commiss contact number supplier blokker orn organis dutch subsidiari intern brand toi manufactur dutch supplier brand toi repres individu basi supplier tend neutral indiffer oper acknowledg strong posit blokker critic oper recognis advantag disadvantag aris oper orn state orn opinion toi quot quot put formula market healthi balanc toi market netherland takeov toi quot quot moment secur continu undertak netherland fact formula pick profession parti dutch toi market favour durch consum takeov toi quot quot activ blokker influenc competit situat significantli meet commiss servic orn confirm support oper premis toi exit market meet confirm potenti success toi hand blokker outset interest supplier consum retail market necessarili consum interest gener serv concentr suppli hand singl player addit note dutch toi store previous suppli dutch sale offic german toi oper respect dutch sale offic gain sale oper fact expressli recognis individu supplier vii abil competitor react explain oper increas substanti lead blokker competitor compet blokker potenti strong competitor hand blokker addit blokker minimis neg effect increas market share toi oper adapt product rang price strategi product stock toi store german sale organis prior oper purchas blokker increas control product suppli dutch market brand product weaken negoti posit competitor vi vi supplier comparison posit blokker viii barrier entri potenti competit barrier entri regulatori barrier enter market specialis toi retail plan restriciton appli larg scale outlet recent year toi retail formula enter dutch market toi earli learn centr den olif market share minim toi earli learn centr manag netherland dutch oper underlin difficulti entrant netherland penetr successfulli dutch market domin posit blokker barrier entri addit market entri necessarili encourag gener declin toi retail market recent year potenti entri relev market reaction dutch retail approach commiss likelihood dutch retail enter market specialis toi retail forese futur retail carri small select toi intend specialis toi retail outlet futur argo major catalogu retail uk plan enter dutch market start oper store concept argo base public catalogu featur wide rang predominantli brand product consum collect pai argo store argo carri product specialis assort toi argo start oper small scale compet signific level short medium term indic retail neighbour countri enter market ix conclus reason set view commiss oper lead strengthen domin posit market specialis toi retail outlet blokker vii fail compani defenc toi argu dutch oper financi viabl support local partner put forward fail compani defenc state toi close oper netherland transact permit initi reaction toi market share toi inevit blokker blokker pick toi share claim altern solut anti competit commiss decid earlier case merger gener regard lead deterior competit structur clear acquir undertak futur forc market acquir undertak market share acquir undertak forc market anti competit altern purchas market burden proof respect parti fail compani doctrin develop case confirm advoc gener tesauro base lack causal concentr creation strengthen domin posit mean disappear fail compani unavoid concentr take place concentr creat strengthen domin posit lack causal oper effect market establish case establish market share toi blokker gain market share potenti toi part blokker group lead deterior competit situat disappear toi oper lead result merger deterior competit situat toi hash shown anti competit purchas claim toi blokker group met requir suffici knowledg dutch toi retail market infrastructur argument potenti buyer contrari support assess toi select strongest player market descript potenti buyer toi reject parti specif knowledg market condit benelux oper potenti competitor member state viii conclus reason commiss conclud acquisit blokker dutch oper toi strengthen domin posit market specialis toi retail outlet netherland result effect competit significantli imped netherland ix applic articl merger regul articl state concentr implement commiss decis pursuant articl requir undertak asset brought separ action restor condit effect competit commiss take note supplementari agreement statement object commiss refer supplementari agreement state condit effect competit restor order blokker termin agreement implement letter agreement decemb june blokker toi submit commiss undertak sought resolv competit concern rais case parti request commiss light undertak grant clearanc decis articl merger regul subsequ measur clarifi supplement number respect note blokker oper toi busi februari concentr fulli implement date reason commiss consid maintain decis articl merger regul consid parti propos mean divestitur light articl articl merger regul summari undertak submit blokker toi includ blokker undertak transfer wholli own subsidiari speelhoorn bv speelhoorn blokker right oblig pursuant franchis agreement ii blokker right oblig pursuant market subsidi agreement iii asset acquir blokker pursuant asset purchas agreement blokker undertak practic notif decis begin negoti interest parti view transfer share capit speelhoorn viabl independ undertak connect blokker toi capabl maintain dutch toi market fulfil social commit made blokker choic independ parti subject commis reason approv blokker undertak retain minor sharehold speelhoorn exce blokker undertak transfer toi minor sharehold sharehold blokker toi entitl maximum seat board speelhoorn compris member blokker toi grant special right typic provid minor sharehold blokker undertak interfer speelhoorn freedom determin independ commerci polici prior complet transfer major sharehold speelhoorn parti blokker ensur speelhoorn dutch toi store manag distinct saleabl undertak manag account durint period blokker ensur continu viabil market store provid suffici financi resourc end ordinari busi parti subsequ clarifi supplement measur parti independ undertak unconnect blokker group maintain develop toi busi activ competit forc market blokker end presenc manag board speelhoorn year transfer major sharehold parti blokker provid commiss monthli basi written report relev develop banker negoti parti transfer major sharehold speelhoorn assess measur pursuant articl merger regul commiss view total packag measur agre parti restor condit effect competit market packag measur accept altern order divestitur articl compar order undo deal immedi set statement object commiss acknowledg transfer share capit speelhoorn toi remaind independ parti opportun independ undertak acquir substanti interest toi busi undertak acquir share capit speelhoorn immedi period time commiss view essenti element restor effect competit purchas major share independ undertak unconnect blokker group maintain develop toi busi activ competit forc market addit commiss put posit evalu chosen purchas satisfi abovement requir blokker obtain approv commiss enter bind agreement parti request approv evid parti satisfi abovement requir produc order put commiss posit assess choic parti commiss formal disagr choic parti requir evid parti satisfi abovement requir week submiss request transfer share capit parti free proce commiss acknowledg light specif circumst case poor perform toi busi netherland establish difficulti attract parti purchas toi busi reason commiss consid continu presenc blokker form minor sharehold combin activ presenc blokker manag board speelhoorn period time serv demonstr confid blokker futur viabil compani guarante develop compani viabl busi period light specif circumst case commiss consid blokker represent board reduc period time case year transfer sharehold parti elimin complet reach conclus commiss take account specif circumst case manag board small retail compani speelhoorn natur compos small number repres close involv commerci polici compani blokker undertak interfer speelhoorn freedom determin independ commerci polici presenc blokker board give access inform commerci decis competit strategi relat competit strategi toi busi oper speelhoorn possibl evalu light fact period time blokker oper toi busi implement divestitur asset propos blokker domin posit market commiss consid order ensur effect competit restor market blokker activ presenc manag board elimin viabil compani establish achiev order blokker end presenc manag board year transfer major sharehold speelhoorn parti activ presenc blokker speelhoorn end give parti opportun purchas share capit speelhoorn held blokker commiss consid blokker provid commiss monthli basi written report relev develop banker negoti parti transfer major sharehold speelhoorn commiss underlin parti free stage period set termin agreement provid letter agreement decemb aim transfer right oblig asset acquir blokker back toi addit blokker oblig termin employ agreement adopt decis articl concentr blokker hold bv acquir dutch oper toi declar incompat common market function eea agreement articl blokker order transfer asset right oblig wholli own subsidiari speelhoorn bv blokker right oblig pursuant franchis agreement date februari blokker toi ii blokker right oblig pursuant market subsidi agreement februari blokker toi iii asset acquir blokker pursuant asset purchas agreement februari blokker toi transfer implement practic notif blokker decis event date blokker enter bind letter intent parti sale major sharehold speelhoorn bv divest total share capit speelhoorn bv total share capit speelhoorn bv transfer toi total share capit speelhoorn bv transfer parti parti possibl purchas total share capit speelhoorn bv held blokker parti independ undertak unconnect blokker group maintain develop speelhoorn bv viabl activ competit forc market specialis toi retail blokker hold seat manag board speelhoorn bv condit parti seat toi seat blokker hold seat longer period year transfer major sharehold parti appoint banker recognis experi sale undertak act behalf sell major sharehold speelhoorn bv enter bind letter intent sale major sharehold speelhoorn bv provid commiss written report monthli basi relev develop banker negoti parti transfer major sharehold speelhoorn bv obtain approv commiss enter bind letter intent parti request approv evid parti satisfi requir set produc order put commiss posit assess choic parti commiss formal disagr choic parti requir evid parti satisfi requir set week submiss request transfer share capit parti free proce articl event blokker fail enter bind letter intent parti manner set articl blokker order transfer right oblig asset acquir pursuant letter agreement decemb toi blokker oblig termin employ agreement articl decis address blokker hold bv van der madeweg netherland bs amsterdam brussel june commiss karel van miert menber commiss oj correct version oj oj version decis edit ensur confidenti inform disclos oj commiss notic notion concentr council regul eec paragraph oj judgment court justic european commun case société techniqu minièr maschinenbau ulm ecr studi discuss paragraph eim centrum voor retail research brancheschet speelgoeddetailhandel gfk interact consum panel proport product blokker turnov higher competitor inclus product increas blokker market share specialis toi retail commiss decis ec case iv kesko tuko oj paragraph otto simon bv oper toypartn bv techno hobbi carri broad assort defin question part relev market left open make substant differ assess purpos case incorpor market share otto simon purpos calcul market share product book sport articl watch children videotap account blokker competitor sell cd rom toi depart depart store cd rom account calcul blokker market share reason commiss base calcul blokker market share turnov figur deduct blokker commiss decis ec case iv kesko tuko oj paragraph commiss decis ec case iv kali amp salz mdk treuhand oj paragraph commiss decis ec case iv saint gobain wacker chemi nom oj paragraph opinion advoc gener tesauro februari join case franc commiss ecr paragraph seq