commiss decis juli relat proceed council regul eec case iv nestlé perrier english text authent eec commiss european commun regard treati establish european econom commun regard council regul eec decemb control concentr undertak articl thereof regard commiss decis march initi proceed case undertak concern opportun make view object rais commiss regard opinion advisori committe concentr background februari nestlé sa notifi public bid share sourc perrier sa launch demilac jointli control subsidiari nestlé banqu indosuez nestlé option purchas sharehold banqu indosuez demilac announc januari nestlé conclud agreement bsn volvic sourc perrier sold bsn nestlé acquir control perrier decis date march commiss continu suspens concentr pursuant articl council regul merger regul nestlé acquir major share perrier refrain exercis vote right attach share pursuant articl merger regul decis date march commiss declar propos concentr rais doubt compat common market commiss initi proceed case pursuant articl merger regul ii concentr commun dimens nestlé notifi public bid intend acquir control sourc perrier sa subsidiari hereinaft refer perrier oper lead concentr mean articl merger regul undertak concern concentr perrier demilac includ turnov nestlé meet threshold articl merger regul iii undertak nestlé nestlé publicli held swiss compani activ sector nutrit nestlé group manufactur sell food product world nestlé consolid worldwid turnov ecu million perrier perrier french compani activ manufactur distribut bottl water perrier activ chees market perrier consolid worldwid turnov ecu million iv affect market propos concentr nestlé perrier affect primarili busi bottl water origin natur spring sourc sourc water sourc water label miner water provid fulfil legal requir composit qualiti provid obtain author compet author effect sourc water miner water refer spring water product market spring water subject author compet author nestlé bottl activ sourc water sector locat franc brand vittel hépar turnov ff million sale million litr germani turnov dm million sale million litr perrier bottl activ sourc water sector locat franc wellknown brand contrex volvic perrier saint yorr vichi turnov ff million sale million litr franc nestlé exclus activ miner water segment perrier present sparkl miner water segment compani export water sourc franc countri major supplier french sourc water market bsn sale nestlé perrier bsn european commun set annex relev product market distinct bottl sourc water soft drink nestlé submit notif separ market bottl sourc water relev market ass propos concentr alcohol refresh beverag includ bottl sourc water soft drink market definit argu basi beverag basic function quench consum thirst commiss consid limit substitut term function suffici establish substitut competit term present case criteria establish substitut quench thirst product natur fulfil function consid belong market tea milk beer fruit factor exist distinct market bottl sourc water oper act signific independec action compani sell soft drink area price factor examin demand consider motiv final consum purchas bottl water origin natur sourc bottl sourc water franc bought regularli consum imag natur product water origin natur sourc associ puriti cleanli absenc contamin gener health healthi style life consum survei confirm view provid survei carri institut françai de démoscopi octob evian show main reason consum drink bottl water origin natur sourc relat posit action human bodi elimin provis miner salt posit effect health studi type question propos comsum tend confirm view econom advis nestlé lexecon report submit clear evid consum survei franc peopl drink bottl water trust clean pure free contamin market research studi carri sofr request nestlé econom advis provid result importantli survei ask peopl consum bottl water prefer ordinari tap water popular reason puriti lack bad tast place presenc miner commiss emphasi addit public campaign supplier nestlé perrier bsn direct promot type element mind consum ii differ composit product tast intend soft drink manufactur tap water addit flavour sugar tast sourc water soft drink drunk smaller quantiti quench thirst satisfi tast pleasur social context sourc water bought regularli final comsum daili larg quantiti fulfil basic alimentari soft drink consum occasion market term volum demand level capita consumpt franc bottl water litr carbon drink fruit juic litr sourc canadean report tabl signific differ volum show water soft drink demand fulfil larg low demand side substitut show soft drink constitut suffici substitut altern bottl sourc water iii low respons price main factor expect appreci transitori increas price sourc water compar soft drink lead signific shift demand sourc water soft drink reason price substanti price differ absolut term bottl water soft drink comparison manufactur work price list show price rang annex spring water pvc bottl litr ff miner water nation brand pvc bottl litr ff sparkl miner water nation brand ff pvc bottl litr ff pvc bottl litr ff glass bottl litr return soft drink ff coca cola pet bottl litr ff tonic pet bottl litr ff orang flavour pet bottl litr take refer nation miner water account bulk consumpt franc soft drink manufactur level rang time expens sourc water retail price price end comsum reflect gap canadean report nielsen secodip statist provid supplier sourc water soft drink inform provid main food distributor confirm annex nestlé deni exist gap repres submit soft drink sold franc cola normal consum price litr coca cola return litr pvc bottl ff price litr perrier return glass bottl ff vittellois flavour ff return litr pet nestlé price canadean report quot price coca cola ff appli march retail casino nestlé repres explan price normal consum price coca cola canadean report quot higher price litr coca cola instanc price appli euromarché period ff ff coca cola light addit plausibl select coca cola cheapest soft drink account larg part soft drink consumpt perrier vittellois flavour indic regard bottl sourc water brand perrier million litr sold repres bottl sourc water franc flavour water ad repres addit packag price product posit compani fring sourc water soft drink except norm bottl water market perrier vittellois flavour consid term volum market repres sourc water market nestlé price comparison adjust differ volum respect bottl coca cola perrier ignor differ materi bottl perrier sold glass expens plastic pet packag coca cola chosen carri comparison obviou price litr coca cola sold glass bottl higher respect comparison price consum shelv retail store adjust retail price case price differ larger annex view consider commiss conclud manufactur retail price soft drink rule higher bottl water franc price ratio magnitud expect appreci transitori increas price sourc water lead signific shift demand sourc water soft drink reason price market bottl sourc water franc character strong market promot activ high advertis budget main supplier consequ result imag natur pure healthi product sourc water recit consum recogn soft drink substitut bottl sourc water daili home gener imag directli consum brand sourc water consequ common ax public brand addit attach brand reduc import price purchas criteria small elast demand small increas price sourc water induc reaction consum result signific substitut bottl sourc water soft drink price evolut manufactur price sourc water soft drink evolut year recit supplier nation miner water substanti increas price nomin real term spite decreas trend soft drink price period manufactur sector account price polici substitut consum sourc water soft drink price evolut strong sustain reduct soft drink price real term forc sourc water supplier reduc price affect abil increas iv view retail vast major retail consult commiss regard bottl sourc water distinct market demand basic led brand awar health concern regard miner water nation brand product offer custom order cover full rang basic alimentari product regular purchas bottl water household consumpt high brand awar consum retail regard nation miner water product offer custom possibl substitut drink retail substitut sourc water soft drink respons price sell kind product suppli consider condit product market product market subject constraint soft drink market market bottl sourc water franc regulatori requir product spring miner water subject authoris miner water year goldman sach report spring miner water bottl sourc locat bottl plant subject major legal constraint manufactur soft drink produc soft drink locat bottl plant adequ balanc economi scale transport cost rational water bottler follow manufactur soft drink grant trade mark licenc independ bottler produc soft drink premis sell product origin brand industri sourc soft drink industri tradition oper basi nation bottl distribut franchis major compani tend acquir control stake independ bottler contrast water spring bottl sourc addit miner water repres total french water market volum market trade mark link repect sourc miner water extract sourc law market trade mark regist sourc water origin sourc market trade mark actor market franc major soft drink produc cadburi schwepp coca cola pernod ricard develop presenc market bottl water spite past growth demand increas manufactur price bottl sourc water similarli miner water manufactur major activ soft drink market instanc perrier sold schwepp oasi soft drink explicit strategi focus busi water market ii manufactur price price soft drink bottl sourc water market follow logic confirm underli differ competit constraint supplier market face comparison manufactur list price work vat discount exclud compar packag pvc pet plastic bottl litr year permit conclus made price soft drink real term deflat monthli french consum price index shown declin trend reduct real price soft drink contrast evolut real price miner water nation miner water brand substanti increas real price period gain time sale volum face expand demand annex differ price polici illustr anlaysi real price correl coeffici correl real price brand water rang minimum badoit vittellois hépar vittel real price correl soft drink market compani posit high instanc correl coeffici coca cola indian tonic schwepp banga pernod ricard correl soft drink bottl water case neg posit low compani acknowledg price polici bottl water market soft drink market subject competit constraint illustr respect bsn orang passion significantli correl bsn water brand compani decid price product examin discount grant list price manufactur alter valid conclus reason list price constitut sourc water market soft drink market adequ indic price polici compani absolut level discount negoti client sourc water market soft drink market supplier client past evolut magnitud variabl invalid repres list price indic price polici compani larg portion discount consid sens pass final consum part public promot activ supplier purchas servic distributor supplier miner water includ term discount budget vari amount link instanc space alloc retail store supplier product mail end consum promot contest point view distributor discount larg extent compens transport cost born distributor transport cost distributor franc estim nestlé roughli work price distanc km page notif list price constitut fair approxim actual price paid distributor iii suppli side substitut conjunct product market constraint recit make imposs soft drink beer produc switch instal capac product soft drink product sourc water spring miner water soft drink produc excess capac legal requir bottl spring miner water sourc make imposs spare capac instal bottl sourc water nestlé suggest bottler soft drink beer bottl plant produc purifi tap water enter sourc water market product evid exist soft drink beer produc excess capac produc support submiss nestlé suggest purifi tap water market countri unit state america denmark greec start make inroad germani account total consumpt bottl water nestlé fact purifi tap water sold countri constitut suffici evid market franc sold present nestlé submiss rest implicit assumpt purifi tap water consid consum substitut sourc water assumpt support evid contrari characterist demand relev geograph market case strike spite strong demand growth consider rate expans market volum constand price increas discount french market bottl sourc water nomin real term decreas trend list price lead brand soft drink real term case coca cola nomin term aggrav discount account technic industri abil soft drink beer produc bottl purifi tap water soft drink beer manufactur enter sourc water market franc past evid strongli suggest suppli side substitut consid commerci viabl compani concern addit soft drink produc consult commiss confirm envisag produc purifi tap water french market suggest commerci feasibl ration respect note coca cola fulfil can water vend machin franc suppli miner water spa decid purifi tap water bonaqa sold germani instal franc produc purifi tap water reason consider suppli side substitut lead present case view relev product market conclus conclud relev product market bottl sourc water distinct sourc water sparkl flavour water assess propos merger materi sparkl flavour sourc water exclud form relevnt product market demand factor sparkl flavour water exclud relev product market number differ sourc water sparkl flavour water term physic characterist tast intend volum consum price level except case compani concern posit sparkl flavour water closer soft drink term packag market price sparkl water perrier market flavour water constitut exampl except exclud competit interact sparkl flavour sourc water compani market sourc water market sparkl sourc water lesser extent flavour sourc water bottler sourc water easili switch product sparkl flavour sourc water technic point view reason difficult justifi radic exclus sparkl flavour sourc water relev product market sparkl flavour water constitut categori product segment market bottl sourc water present case assess propos merger event materi differ sparkl flavour water exclud relev geograph market view structur element set examin competit environ sourc water market commun commiss conclud relev geograph market power entiti assess franc factor parti concentr determin competit behaviour franc suffer signific competit constraint franc nestlé repres argu level export area account market definit nestlé price discrimin franc area sell abroad relat belgium german laender price franc restrain condit prevail market nestlé present condit competit market substanti basi analysi french export bottl sourc water belgium germani nestlé submit relev geograph market extend includ belgium german laender argu excess price appli french market parallel import franc develop mere threat parallel import jeopard domin posit french market nestlé view competit environ prevail member state practic imposs develop parallel import absenc commun competitor capabl overcom strong barrier entri french market commiss conclud relev geograph market franc competit environ commun competit environ bottl sourc water market heterogen commun demand present characterist member state trade flow neglig term consumpt suppli highli fragment member state demand natur member state countri uk ireland netherland denmark portug demand bottl sourc water extrem low exist low consumpt capita market stage member state demand basic sparkl water account germani market itali belgium member state capita consumpt bottl water close consumpt carbon soft drink show extent pattern consumpt trade flow commun minor signific water low high volum product gener bear transport cost long distanc high impact transport const region bulk market nestlé estim impact transport cost km expens water glass transport cost import countri surround franc remain neglig term consumpt repres germani itali spain basic import french miner water appeal higher segment demand pai substanti premium reput brand offer extra benefit intern flair belgium import attain signific low degre concentr suppli small size market cnsumption belgium repres french prodction volum term suppli highli fragment germani itali spain lesser extent belgium countri commun market develop presenc major player germani lead compani ueberking group gerolstein blaue quellen nestlé apollinari account market share exceed respect sourc brand ad hand brand nation statu apollinari market faching repres market gerolstein hirschquel consid nation brand itali spring spread countri compani market bottl sourc water lead brand ferrarel own bsn repres italian market situat similar spain lead brand font vella own bsn account market grupo vichi catalan market dozen small compani total annual sale million litr year suppli spanish market sourc alimarket belgium main produc spadel chaudfontain enjoi higher market share basic smaller size market spadel total sale bottl sourc water belgium amount million litr market chaudfontain sale million litr market signific export activ franc spite advantag locat sourc fragment market absenc major compani compar french supplier explain number factor germani sourc water sold return glass bottl increas consider impact transport cost itali glass account half total market lead brand suppli glass distributor bottl water itali germani spain fragment unlik franc nationwid food retail import member state hinder possibl supplier bottl water member state develop larg nation home base allow envisag expans market present export itali spain germani repres respect product struggl compani member state overcom region limit achiev nation dimens continu forese futur french export threat parallel import bottl sourc water inexpens bulki merchandis high impact transport cost margin high parallel import move member state larg volum requir earn signific revenu profit note rule export french miner water carri subsidiari main supplier instanc export activ vittel belgium germani carri vittel subsidiari countri société vittel import vittel mineralwass gmbh arrang degre control water export countri price belgium germani price deliv custom significantli higher work price franc nestlé quot ff bottl vittel pvc belgium ff bottl germani april price compar work price franc ff date result comparison price hypothet parallel import bui vittel belgium germani higher list price charg vittel franc addit pai higher price hypothet reexport incur cost transport back franc unpackag pallet relabel bottl repackag margin discount rebat grant year end basi volum sale progress rang discount control parallel import franc independ parallel import posit benefit discount natur sort discount enabl commerci condit appli individu custom franc germani packag sourc water franc typic packag german sourc water market glass bottl cl franc sale bottl water germani packag return glass bulk french export germani packag glass vittel export germani consist basic glass bottl repres export transport cost glass substanti higher plastic nestlé estim addit french retail confirm distribut sourc water franc glass bottl face problem consum purchas sourc water plastic bottl distributor incur higher cost handl glass plastic reason commiss consid condit prevail sourc water market show parti export threat parallel import constrain parti competit behaviour relev geograph market barrier entri isol french market addit competit condit prevail franc hand rest commun hand strong barrier entri french market bottl sourc water barrier recit franc constitut separ geograph market french supplier impos appreci transitori price increas suffer extern competit constraint absenc import spite absenc tariff legal barrier trade import bottl sourc water franc neglig total french consumpt show increas trent easili explain market structur prevail member state import remot area import glass bottl practic exclud reason price import rememb miner spring water bottl sourc produc specif locat extent foreign sourc locat franc transport cost absorb case absenc import explain factor distribut logist french miner water produc gener larg volum transport water train complet wagon logist main custom adapt competit type transport compani locat franc spa suffer transport cost disadvantag export franc transport truck develop logist gener suffici volum advantag transport train access distribut french market matur market term number brand rang product industri sourc access french retail market sourc water brand addit establish nation brand difficult brand estabish expect surviv medium long term render entri market high risk strategi addit water shelf space retail store necessarili limit case prove difficult replac exist brand advertis sunk cost french water market characteri predomin brand combin advertis budget nation french supplier nestlé perrier bsn amount ff million heavi advertis establish supplier exist year establish brand requir heavi invest long time addit multipl exist brand make establish mor difficult access media appropi moment involv high level risk view nation imag attach brand belong nestlé perrier bn addit barrier entri high degre concentr french sourc water market compani hold market share constitut addit barrier entri increas risk entri recit appar failur past attempt enter french market absenc import confirm actual econom impact barrier mention perrier attempt entri year present french market ferrarel belong bsn san pellegrino perrier hold stake member board manag apollinari san benedetto remain insignific term sale food distributor sourc brand enjoi initi accept french consum consum gener return nation brand short medium term fact belgian compani spadel direct export effort uk franc spite geograph situat sourc show difficulti penetr french market compat common market reason set assess compat propos merger made basi separ french market bottl sourc water hereinaft refer bottl water compos water sparkl water focu assess lie segment water segment repres approxim total bottl water market volum term materi chang occur segment sparkl water nestlé small acit flavour sparkl water smaller local water miner spring water includ market assess differ number respect nation miner water differ set account assess local water spring water provid suffici competit constraint nation distribut miner water assess propos merger account agreement conclud nestlé bsn januari parti agre subject nestlé acquir control perrier transfer volvic major miner sourc water perrier bsn assess propos merger commiss account exist agreement implement appreci impact futur market structur agreement market element lead conclus perrier futur market condit declar compat common market assess made situat volvic agreement implement parti decid implement volvic agreement market share notif propos merger nestlé provid figur total market volum market share respect market particip base data data collect chambr syndical de eaux minéral chambr syndical de eaux de sourc nestlé provid figur year nestlé provid figur total market market share figur total market total market volum respect market share nation water supplier nestlé perrier bsn local water supplier valuevolumetot million million sparkl million ff million water mineralal watersonli mineralal watersonli mineralnestlé nestlé perrier perrier bsnbsntotal total market share term reflect real market strength market market share volum french water market compos categori product term price nation distribut miner water local water spring water exist wide constantli increas price gap categori water averag manufactur work price local spring water ff pvc bottl work price nation miner water rang ff quantiti deduct flat rate rebat gap nation water local spring water amount ff consider price differ categori water import financi resourc water market invest public market commiss consid account market share express volum market share provid nestlé show nation supplier hold market share total french bottl water market local supplier market share written oral submisson statement pursuant articl merger regul nestlé chang volum figur origin present notif base data relev trade associ favour figur canadean report report total market volum million million litr differ result view local supplier larger share market repres water bsn heard commiss present estim panel intercor secodip suggest higher market volum present nestlé notif nestlé chang figur total market ff million bsn suggest total market ff million figur remark close confirm figur provid nestlé notif discuss market volum import event market share remain level nation supplier local water supplier market volum figur suggest canadean report intercor secodip panel estim credit figur origin present nestlé base data receiv relev trade associ canadean report intercor secodip panel includ categori local miner spring water belong nestlé perrier water repres volum million litr addit unlik figur trade associ report panel estim base sampl part sale retail purchas consum final contradict present estim total market volum intercor million canadean million secodip million litr strong demand growth due exception hot weather condit interrupt slow nestlé figur provid notif account interrupt demand growth provid total market volum million litr annex commiss set sale volum obtain enquiri data relev trade associ calcul lead total market volum million litr water million litr sparkl water million litr figur remark close figur provid nestlé notif figur provid chambr syndical de eaux minéral chambr syndical de eaux de sourc show declin sale local miner water compar increas sale local spring water confirm gener trend market experienc small increas total volum compar conclud volum figur provid nestlé notif reliabl figur assess propos merger figur larg extent confirm share local water total water sale sparkl number major retail wholesal weight averag sale show local water supplier repres volum approxim total water sale share fall approxim market share total french water market volum evolv nestléi figur averagediffer low high sharebi nestlé perrier bsn volum nestlé perrier bsn tabl show market share nation supplier remain stabl period consid averag variat market share supplier amount volum compar variat market share volum absolut term nation supplier constantli increas sale term averag increas term volum averag increas strong reduct demand growth nation supplier lost volum million litr recit increas sale year local miner water supplier lost volum local spring water supplier increas volum fact demand growth larg due environment reason lead peopl replac tap water cheapest bottl water spring water tap water replac segment variat market share small fundament chang market posit nation supplier regard local water supplier base nestlé figur provid notif post merger market share water segment sale volvic bsn sale volvic bsn valuevolumeal watersal watersonli mineralnestlé bsntotal sale volvic bsn valuevolumeal watersal watersonli mineralnestlé bsntotal conclud french bottl water market highli concentr market merger merger increas concentratin supplier hold market volum miner water capac portfolio sourc nestlé submit major sourc nestlé perrier bsn work close maximum capac maintain market share strongli grow market nestlé recogn growth rate french bottl water market slow reach nestlé speak realist growth rate year water segment centr discuss case nestlé free capac miner water output capac sourc year vittel annual capac million litr free capac million litr hépar annual capac million litr free capac million litr abatil annual capac million litr free capac million litr nestlé own spring water pierval capac million litr free capac million litr perrier own major miner water sourc consider free capac contrex volvic exact figur commiss disclos reason trade secreci free capac sourc combin exce total water market volum perrier own addit miner water sourc thonon estim capac million litr free capac approxim million litr nestlé estim perrier own number import sparkl miner water perrier saint yorr vichi smaller sourc sourc consider free capac final perrier own larg number local spring water sourc sourc castel saint roch le orm carola saint lambert montegut regina sergental bsn major miner water sourc evian estim free capac approxim million litr major sparkl miner water sourc badoit reach maximum capac bsn present develop sparkl miner water sourc call salvetat merger sale volvic bsn supplier consider numer sourc free capac exce total water market volum million litr supplier major miner water sourc huge free capac compar market volum local water supplier posit respond increas demand capac limit assum constant growth rate demand year mix miner water sourc nestlé bn consider increas respect portfolio major reput sourc brand result adapt market strategi demand increas local water supplier water sourc number size similar nestlé bsn merger capac local sourc million litr gener lower spring water sold brand retail brand bottl sourc result low price transport longer distanc km mean big retail chain intend develop retail brand spring water water come sourc tast characterist type water lowest end local spring water strongli compet nation miner water miner characterist stabil composit ident geograph origin fact confirm retail annex conclud merger sale volvic bsn nestlé bsn consider capac reserv respond increas demand acquisit perrier subsequ divis consider increas free capac nestlé bsn price merger narrow oligopoli supplier exist price competit consider weaken degre market transpar high price gap local spring water nation miner water work price rebat vat nestlé perrier bsn major miner water rang ff pvc bottl contrex ff hépar ff evian ff vittel ff volvic ff deduct flat rate rebat price exce averag work price local spring water ff bottl recit price increas price parallel work price rebat vat major miner water nation supplier constantli increas parallel annex averag annual increas price contrex nomin real volvic nomin real vittel nomin real hépar nomin real evian nomin real increas price supplier price decreas period consid price leader perrier tradition maintain highest price level product rebat grant supplier commiss inform rang elast demand regard local water spring water cross price elast demand nation miner water low nation supplier creat extrem high consum fidel long stand strong public campaign nation miner water confirm fact retail reflect demand consum price criterion choic nation miner water annex fact depend major nation miner water brand annex low cross price elast demand regard local water born fact nation supplier maintain constantli increas absolut sale volum repres total water market small loss total demand growth slow consider exist low cross price elast demand miner water facilit price increas mainten high price lose signific sale volum local water supplier product cost price margin product cost price margin nation supplier pvc nation miner water bottl high vari approxim ff cost basi includ variabl fix product cost advertis cost high product cost price margin import price differ local spring water price competit level conclud price nation miner water high supra competit price level market transpar nation supplier publish list price basic quantiti rebat suppli custom consider feedback custom addit supplier provid chambr syndical de eaux minéral monthli sale volum receiv monthli sale quantiti broken brand supplier narrow oligopoli practic increas market transpar permit supplier follow evolut market posit cost structur nestlé recogn major brand nation supplier similar cost structur lexecon report manufactur process consist basic bottl bottl sourc result multipl bottl plant reduc scope economi scale result nestlé bsn major cost advantag give incent aggress competit action vi vi note nation supplier appli system work price transport cost born directli custom retail wholesal competit local water supplier nestlé support bsn submit local water spring water constitut competit constraint nation supplier written submiss statement pursuant articl nestlé claim local supplier repres water french water market hypermarket share reach nestlé figur market share amount consider price gap averag work price local spring water nation miner water market share reflect market strength local water total water market recit disput nestlé term sale gener total market sale volum market share amount nestlé figur total water market water segment market share confirm share sale held local water total water sale repres sampl retail wholesal weight averag sale local water repres approxim total water sale evolut market share total water market year increas volum increas recit evolut absolut figur sale valu sale volum total water water nation supplier local supplier set tabl total water ff million total averag total averag nestlé perrier bsn total water volum million litr nestlé perrier bsn water volum million litr total averag total averag nestlé perrier bsnn othersn tabl show year strong growth due exception hot weather condit market growth slow consider spite strong declin demand growth market increas ff million nation supplier ff million ff million year averag increas nation supplier exceed time local supplier constantli increas turnov lost million litr volum tabl show volum term sale growth nation supplier local supplier declin year spite stronger declin nation supplier averag increas sale nation supplier year exceed local supplier volum loss nation supplier small million litr water million litr sparkl water repres water segment supplier hold market volum strong reduct demand growth except year growth loss sign signific shift demand favour local spring water loss sale nation supplier necessarili due competit action local spring water price increas evian gain volum million litr volvic hépar increas price equal gain volum million litr contrex vittel lost volum deni degre competit exist nation miner water local spring water suffici show local spring water constitut real competit threat market positon nation supplier live competit incompat market power long competit compel undertak hold market power lower price court judgment hoffmann la roch paragraph ecr mind price nation miner water high level spite situat nation supplier succeed regularli increas price increas price contrex volvic vittel hépar evian supplier profit increas price pressur local water prevent maintain present high price increas abil constantli increas price real term strong proof competit local water supplier suffici past merger significantli contrain market power nation supplier exist number structur disadvantag local spring water supplier limit competit pressur nation supplier supplier spring water small compani dispers numer geograph local supplier achiev total market water market segment famili papillaud group cge reach sale volum repres market share region volum local water supplier market share volum smaller local supplier independ compani aggreg determin constrain market power remain nation supplier individu financi strength compar nestlé bsn extrem weak combin market share volum fact overst competit strength local water supplier local water own support big retail activ gener retail suffici profit invest import resourc develop sourc contrast nestlé bsn consider financi strength develop water activ repres import profit busi retail brand combin local spring water umbrella water suffici altern counterweight nation miner water retail annex strategi combin spring water brand limit extent improv posit local water chang fact long stand establish demand nation miner water total demand addit spring water sourc sold retail brand gener lowest end local water water sold compet complement major nation brand accept reason substitut consum regularli drink nation miner water retail brand success segment market consum replac tap water cheapest drink household water tap water replac segment nestlé declar oral hear retail brand repres volum total water segment retail water bottl local water supplier volum includ market share except retail own sourc bottl water local miner water law market retail brand brand name nestlé figur local miner water repres miner water hand nation supplier low sale price major local water market econom radiu km suffici margin produc absorb transport cost longer distanc addit major local water sourc capac million litr consequ local water produc suffici volum financi return justifi signific import invenst brand promot nation public nation distribut organ water strong brand imag sold region contrast nation supplier sourc consider capac invest year imag brand nation distribut system crate high fidel consum expect find nation brand retail store nation supplier spent ff million advertis major brand contrex volvic vittel hépar evian total ff million merger financi resourc perrier increas combin nestlé massiv financi resourc local spring water supplier possibl compet equal term ramain supplier invest advertis nation wide distribut system concern letter march nestlé recognis smaller sourc difficult signific player french water market conclud local water supplier short term significantli constrain market power remain nation water supplier nestlé bsn clear competit advantag compar local supplier bigger sourc brand distribut stock system import financi resourc continu invest heavili nation public promot campaign strategi liabl increas consum fideleti brand reduc cross price elast demand water vi vi local spring water addit merger nestlé consider number local spring water sourc recit full rang sourc compris miner spring water sale strategi market bui power nestlé support bsn submit nation supplier constrain bui power big retail nestlé largest custom repres total turnov nestlé bsn submit major retail group intermarché leclerc carrefour promod repres total sale volum nation supplier addit retail sell local water retail brand competitor nation water supplier bui power demonstr fact major brand delist averag rebat grant vittel retail increas year lexecon report concentr buyer true largest buyer repres import part turnov nation supplier purchas power concentr buyer import concentr suppli side merger volum miner water suppli side hand supplier easili engag anticompetit parallel behaviour recit demand side compos greater number independ compani exce total water turnov supplier nestlé individu share ten largest buyer vari nestlé total turnov ten buyer reach remain vari purchas equal bui power base volum purchas confirm fact rebat grant retail ident adapt individu buyer show front highli concentr suppli side demand side compos number buyer equal strong aggreg conclud constrain market power merger nation supplier enforc competit rule commiss pai attent protect weaker buyer buyer bui power absenc suffici competit pressur market exclud nestlé bsn appli condit sale buyer bui power retail wholesal significantli limit fact afford sell longer period time brand miner water suppli nestlé perrier bsn risk lose custom total french water consumpt miner water consumpt concentrad remain nation supplier case decid commiss bui power element creat counterweight product involv gener intermediari product product long term contract cooper agreement develop product involv creat balanc seller buyer relationship provid buyer suffici concentr case bottl water wide consum product retail reflect demand consum contrari statement made lexecon report brand loyalti deni nation suplier creat high consum fidel respect brand long stand heavi public campain make product larg extent produit prévendu gener recogn profession industri retail reflect demand consum chambr syndical de eaux minéral write letter februari trouv un part le grand sourc eaux minéral qui sont distribué échelon nation pratiqu un politiqu de notoriété de marqu appuyé sur un fort publicité autoris de prix relativ élevé autr part de sourc régional eaux de sourc ou eaux minéral dont le dynamism de commerialis repos essentiel sur de prix trè ba dan le premier group qui fournit de de vent intérieur le marché est caractérisé par un fort identité de chaqu sourc indépendam de la société ou du group qui control son exploit attach du consommateur habituel se marqu préférée ne rencontr pa au même degré dan le autr pai commiss question repres sampl retail wholesal order prioriti purchas criteria major mention criteria demand consum reput brand annex brand reput brand loyalti mention import featur nation miner water number repli annex merger sale volvic bsn nestlé bsn bigger portfolio brand supplier present own elimin competit major sparkl water brand perrier perrier saint yorr contrex volvic reduc choic retail independ brand inevit increas depend retail wohlesal remain suplier choic reduc supplier ty brand oper supplier rebat made depend sale rang product cover wider rang reput brand increas depend retail remain supplier major retail wholsesal refer recit state depend nation supplier till local spring water suffici altern nation miner water statement set full annex retail wholsesal concern major smaller compani express fear futur margin negoti vi vi nestlé bsn sell brand supplier gener local water complementari product real substitut drinker nation miner water weigtht averag share sale nestlé perrier bsn total water sale sparkl repres sampl retail wholesal amount approxim volum higher show consider weight brand remain supplier total water sale number major retail wholesal delist brand concern nestlé admit retail delist brand nation supplier time confirm depend retail nation supplier deni partial delist disciplinari effect supplier extent biggest retail bui power bui power retail limit larger portfolio brand hand supplier delist immedi affect annual full rang rebat product sparkl flavour merger sale volvic bsn increas portfolio remain supplier make delist futur difficult present time addit delist provok switch custom shop sell prefer brand exact percentag switch case unpredict constitut factor risk retail annex retail limit bargain power nestlé state fact bottl water repres estim sale retail sale repres higher percentag turnov supplier creat imbal favour retail reflect accur bargain posit retail inform provid retail exclud delist nation brand result loss end consum attach brand switch retail outlet order find brand delist singl major brand higher impact retail sale figur suggest loss client impli loss client purchas retail outlet concern nestlé final submit bui power demonstr signific increas rebat argument accept signific increas list price nomin real term compens increas discount effect net increas price paid retail take vittel largest discount grant retail calcul basi discount french franc grant year includ commerci cooper relat turnov french franc achiev client largest discount grant vittel retail repres turnov achiev custom discount doubl year nestlé submit list price vittel pvc increas ff favour list price januari ff april assum total amount discount consid includ commerci cooper price discount increas major brand increas net price annex situat main supplier present market retail counterbal abil nestlé perrier bsn increas price consider year merger bui power retail likei reduc conclud bui power retail wholesal suffici constrain significantli market power remain nation water supplier merger merger increas portfolio major brand hand nestlé bsn shelv big retail store merger reduc choic retail sourc suppli increas depend major supplier market increas depend major brand difficult retail plai produc local spring water repres realist altern short term potenti competit nestlé submit view strong market growth bottl water major beverag food manufactur consid potenti competitor constrain market power nestlé bsn merger nestlé refer larg number sourc franc number market entri french local supplier foreign supplier nestlé mention import franc spa apollinari italian produc address question potenti competit examin exist competit meaning effect entri place entri capabl constrain market power remain nation supplier question local water supplier foreign firm enter produc sell bottl water enter enter volum price basi quickli effect constrain price increas prevent mainten supracompetit price entri occur time period short deter compani i concern exploit market power commiss opinion exist signific barrier risk enter french bottl water market risk exist equal local water supplier entrant neighbour geograph market reason difficult entri set hereinaft french water market grow rapidli growth halt annual growth rate slow franc highest capita consumpt water commun expect french water market futur grow slowli rest commun admit nestlé lexecon report mr sedemund letter march strong declin demand growth perman limit demand growth franc french water market matur market term number brand rang product market fill number establish brand fulli satisfi retail store fill limit shelf stock place water segment major brand evian contrex vittel volvic hépar establish virtual distribut outlet entri sixth brand nation larg scale basi difficult addit brand reput sold lower price local water offer retail larger discount induc retail list brand volum establish major brand access french distribut render difficult fact establish nation supplier grant retail wholesal annual rebat link respect product rabai de quantité rabai de gamm rabai de progress accord de coopérat rebat cooper agreement pure quantiti rebat pursu object bind buyer full rang product supplier type rebat strengthen posit establish supplier rais barrier entri newcom newcom offer compar greater rebat lower volum lower rang product kei problem access french water market reput establish brand nation supplier grant nestlé perrier bsn long run advantag local supplier newcom nation supplier invest year continu invest consider sum public promot respect brand recit nestlé spent ff million promot brand vittel repres turnov achiev sale brand year bsn spent turnov promot brand evian true perrier volvic brand high long stand spend advertis creat low elast demand signific barrier entri vi vi local spring water vi vi potenti newcom constantli increas consum fidel establish brand merger nestlé bsn capabl continu heavi advertis respect brand requir financi resourc strategi contribut deter potenti entrant maintain price gap reduc elast demand local water supplier advertis promot sunk cost recover case failur market newcom establish brand costli time consum consum accept year extrem riski case failur accept brand consum invest lost explain recit establish brand matur french market extrem riski bottl water market advertis requir sell signific amount product advertis cost cost constitut consider disadvantag newcom compar establish firm newcom recuper cost high current sale volum high concentr barrier entri increas likelihood effici singl concert reaction establish firm newcom view defend acquir market posit profit joint action nestlé bsn oppos public bid made ifint agnelli group exor perrier clear sign fierc reaction acquisit perrier firm disturb exist market structur difficulti confirm commiss virtual interest compani question eas difficulti access french water market extract made nestlé commiss letter illustr repli question set annex contrari assert made nestlé compani contact commiss confirm concret plan enter french water market answer receiv show potenti entrant entri riski case merger nestlé perrier place case entri novo requir build plant applic author exploit sourc establish distribut link establish brand consider period time newcom nestlé bsn drawn commiss attent fact exist larg number miner spring sourc franc develop point number entri local supplier lexecon report sourc size capac sale compar major sourc nestlé perrier bsn indic sourc develop quickli point significantli restrain market power remain nation supplier letter march nestlé admit smaller produc invest market advertis make difficult signific player french water market deni local supplier develop develop limit region area segment market short term significantli restrain market power nation miner water prove fact nation supplier constantli increas price nomin real term increas sale local spring water agreement conclud nestlé bsn nestlé agre sell volvic sourc bsn price exceed ff million explain fact easi enter french water market develop spring brand agreement show signific entri expans market made acquisit major sourc acquisit perrier own biggest capac market agreement sell volvic bsn possibl acquisit major water sourc brand franc newcom foreclos supplier remain market nestlé refer import spa apollinari italian produc firstli note foreign beverag food compani size similar nestlé perrier bsn acquir french water sourc capac equival major sourc own establish supplier perrier foreign compani import sell french market year present achiev signific volum sale establish brand short term significantli compet wide rang brand own establish suppplier sale spa franc can water sold coca cola vend machin neglig succeed increas introduct franc true sale apollinari italian produc san pellegrino own perrier ferrarel belong bsn levissima san benedetto import compani water segment sparkl water segment princip direct chr café hotel restaur sector handicap higher cost transport sold glass bottl german italian water sold higher price french sparkl water consid price constrain factor french water nestlé argu strong product substitut soft drink bottl water account assess question domin product substitut purifi treat tabl water concern easili produc soft drink produc type water market franc good enter competit exist french miner spring water involv high market cost high risk high sunk cost exist forese demand purifi treat water franc recit final nestlé argu end consum price numer soft drink coca cola drink rang end consum price bottl water coca cola confirm commiss price target bottl water exist degre demand substitut soft drink water account question domin argument accept end consum price cola miner water product centr discuss case recit letter march nestlé recognis miner water product cheaper altern consum basic water roughli half price cola goldman sach report septemb conclud effect price constrain potenti competit quickli significantli constrain market power supplier remain french water market risk enter market increas propos merger newcom face strengthen power major brand perrier foreclos acquisit potenti entrant impact mainten develop effect competit case implement sale volvic bsn duopolist domin high market share capac nestlé bsn merger sale volvic bsn insuffici competit counterweight local miner spring water increas depend retail wholesal portfolio brand nestlé bsn absenc effect price constrain potenti competit newcom characterist outlin commiss conclud propos merger nestlé perrier creat duopolist domin posit significantli imped effect competit french bottl water market market constitut substanti part common market nestlé support bsn submit articl merger regul appli oligopolist domin commiss prove absenc signific competit establish nation supplier absenc actual potenti competit oligopoli applic articl merger regul oligopoli articl merger regul stipul concentr creat strengthen domin posit result effect competit significantli imped common market substanti part declar incompat common market question provis cover market situat effect competit significantli imped firm power behav appreci extent independ competitor custom consum provis cover market situat effect competit significantli imped firm power behav appreci extent independ remain competitor custom ultim consum nestlé deni fact econom point view singl firm domin oligopolist domin significantli imped effect competit market structur condit mr sedemund submiss lexecon report pp commiss consid distinct singl firm domin oligopolist domin decis applic applic merger regul situat significantli imped effect competit market structur condit case merger weaken competit oligopolist weaken signific increas concentr suffici price constrain competit actual potenti competit come oligopoli articl eec treati institut system ensur competit common market distort princip goal treati mainten effect competit restrict effect competit prohibit result domin posit held firm permiss result firm instanc result merger undertak acquir market power appli excess price constitut exercis collect market power merger regul intend prevent mainten competit market structur domin posit mean effect competit imped impedi occur singl firm power collect power decis applic applic articl merger regul absenc explicit exclus oligopolist domin articl assum legisl intend permit impedi effect competit undertak hold power behav appreci extent independ market creat loophol fundament treati object maintain effect competit time order jeopard proper function common market order avoid applic merger regul suffic divid domin power instanc compani order escap prohibit articl contradict basic principl common market effect competit significantli imped hypothesi object articl eec treati overturn light legal econom consider articl interpret cover singl firm oligopolist domin signific note major antitrust system merger control system appli appli rule singl firm oligopolist domin american system french law articl law decemb german law gwb uk law fair trade act section system establish practic control merger rais problem oligopolist domin case adopt merger regul merger previous subject control subject singl firm domin control merger regul transfer nation merger control power commun member state system oligopolist domin control time abandon control altogeth substitut commun level absenc express provis effect cession control assum argument bsn commiss violat principl legal certainti case case appli oligopolist domin concept accept explain correct interpret merger regul lead conclus articl cover domin significantli imped effect competit independ situat result firm argument bsn commiss develop administr case law bsn argument circumst relev posteriori control take place involv interfer acquir right merger control system priori control system definit implement merger prior author commiss ii creation duopolist domin posit nestlé state commiss prove absenc signific competit supplier brought forward argument rebut indic mention commiss statement pursuant articl effect merger price competit supplier greatli weaken high degre price parallel long period time high product cost price margin larg gap work price nation miner water local spring water commiss assert exist oligopolist domin nestlé perrier bsn merger fact market structur show french bottl water market highli concentr market price competit consider weaken mainten develop competit remain market requir protect structur oper restrict scope competit situat judg sever combin market structur aris merger addit factor recit lead conclus propos merger effect creat duopolist domin posit allow nestlé bsn jointli maxim profit avoid competit act larg extent independ custom competitor merger degre concentr extrem high nestlé bsn hold total french water market volum miner water nation sparkl miner water supplier french market supplier oper profit segment bottl water strong interest incent jointli defend posit merger competitor commun approach size rang brand geograph spread nestlé bsn remain main compani link nestlé bsn spa belgium total sale million litr bottl water belgium turnov bfr billion ecu million time smaller nestlé bsn lead german bottler smaller apollinari sale germani amount approxim million litr gerolstein brunnen million litr mineralbrunnen ueberkingen million litr nestlé bsn size reduct supplier duopoli mere cosmet chang market structur concentr lead elimin major oper biggest capac reserv sale volum market perrier sourc brand divid remain supplier addit reduct nation supplier make anticompetit parallel behaviour lead collect abus easier miner water supplier franc develop instrument transpar facilit tacit coordin price polici retail price bottl water transpar packag product size main product market retail price easili check statist regularli suppli organ addit perrier vittel bsn publish tariff price readili compar work tax exclud bottl mean transport basic price constitut refer price polici tacitli coordin analysi tariff price evolut time real term effect gener inflat exclud show high degre price parallel annex compani develop instrument allow control monitor behaviour homogen transpar tariff mutual monitor price polici competitor addit perrier bsn vittel implement mechan regular exchang inform quantiti sold month broken major brand follow perman monthli basi behaviour sale evolut permit detect deviat singl major brand expect perform merger instrument indispens reduct supplier market result increas transpar market rememb supplier carri bulk sale custom player remain market similar size natur merger remain nation supplier market similar capac similar market share symmetr duopoli water segment market share volum nestlé bsn water nestlé bsn miner water market share nestlé bsn water equal import stake market high sale volum aggress competit action direct signific impact activ supplier provok strong reaction result action consider harm supplier profit improv sale volum reciproc depend creat strong common interest incent maxim profit engag anti competit parallel behaviour situat common interest reinforc fact nestlé bsn similar size natur activ wider food industri cooper sector industri demand price inelast price increas fear offset loss volum motiv consum bui consum miner water daili basi real substitut miner water imag brand water brand loyalti accentu price inelast demand increas real price proportion smaller impact quantiti demand price increas result increas total revenu profit incent possibl increas price jointli market recogn compani past annex show price evolut year real price propos concentr facilit reinforc likelihood strategi tacitli adopt nestlé bsn compani share long common experi bottl water market franc cost similar compani enjoi signific cost advantag argu compani face cost condit view price prevail market tacit coordin price polici express bind agreement compani extrem difficult signific differ cost consid element hinder implement tacit parallel behaviour element present market raw materi sourc water free manufactur process consist basic bottl establish technolog difficult gain major technolog advantag bottl sourc result multipl bottl plant reduc scope economi scale final nestlé confirm cost major supplier inform provid commiss respect confirm view technolog matur amp plai major role basic manufactur process parti consist bottl establish technolog nestlé indic expect major respect addit scope product innov market water reduc water industri consid industri base research technolog develop quickli erod acquir posit research develop activ market fact minor import total expenditur nestlé amp respect water annual turnov achiev sector clear indic respect figur lower averag expenditur food sector notif compar turnov devot typic innov industri amp notifi oper weaken likelihood develop competit nestlé bsn nestlé bsn react strongli attempt extern actor ifint acquir perrier bsn vittel smaller spare capac perrier perrier ownership parti come water market constitut element uncertainti disrupt market joint reaction nestlé bsn ifint bid view sens joint entri deterr action subsequ agreement nestlé bsn share perrier sale volvic weaken likelihood develop competit nestlé bsn competit supplier reduc fact bsn hold brand evian volvic low miner degre milligram litr nestlé hold brand contrex vittel hépar high miner degre milligram litr split brand increas product differenti supplier result competit weaken buyer depend supplier final end consum suffer consequ absenc competit market term higher price fring firm local spring water retail constitut sufficic competit constraint local spring miner water small dispers constitut signific altern nation water examin recit ff compani constitut suffici price constrain competit forc undermin possibl offer structur affect market bsn nestlé jointli maximis profit avoid competit true alleg bui power retail recit ff forc market past prevent nation miner water supplier constantli increas parallel price real term barrier entri high condit entri effect potenti competit french water market examin expect actual entri threat entri jeopard abil nestlé bsn profit increas price jointli futur addit merger increas risk difficulti face newcom iii conclus conclud market structur result merger nestlé perrier sale volvic sourc bsn creat duopolist domin posit french bottl water market significantli imped effect competit consider harm consum total french water market ff million year volum water bought french consum highest consumpt rate capita commun power increas price bottl water small signific percentag instanc lead consider loss consum sale volvic bsn singl firm domin volvic agreement implement propos merger nestlé perrier creat domin posit entiti afford power behav appreci extent independ competitor custom ultim consum factor lead commiss conclus high market share french water market approxim volum market share biggest competitor combin free capac entiti sparkl water capac repres multipl biggest competitor exce volum total water market portfolio miner water sourc own nestlé perrier miner water sourc major sourc contrex volvic vittel sparkl miner water sourc major sourc perrier saint yorr creat major advantag vi vi competitor entiti hold import number spring water sourc nation level competitor bsn major water sourc evian major sparkl miner water sourc badoit bsn reserv miner water leav limit scope action compet nestlé perrier medium long term sparkl miner water segment sourc badoit reach full capac respond increas demand competit local spring water insuffici constrain scope action nestlé perrier retail wholesal depend brand entiti effect constrain market power nestlé perrier sign price constrain potenti competit quickli effect enter french water market spite limit free capac evian bsn nonetheless maintain scope action compet nestlé perrier expect bsn effect compet nestlé perrier supplier strong common interest incent jointli maxim profit miner water segment bsn major brand evian suppli french market export market bsn decid capac signific volum nestlé perrier particip increas total demand maintain increas export anticip bsn effect compet nestlé perrier conclus reason outlin commiss conclud sale volvic bsn propos merger creat domin posit result effect competit significantli imped substanti part common market mean articl council regul vi commit propos nestlé nestlé offer modifi origin concentr plan notifi enter commit maintain fulli posit adopt written oral repli statement commiss pursuant articl regul eec date nestlé declar prepar modifi effect oper notifi commiss februari basi undertak order meet requir commiss facilit entri viabl competitor adequ resourc bottl water market increas capac exist competitor case competitor effect compet french bottl water market nestlé bsn nestlé undertaken make sale brand name suffici capac water bottl competitor permit competitor million litr water capac annum brand name sourc divest springcapac million litr vichi thonon pierval saint yorr number water sourc capac figur repres knowledg nestlé capac figur approxim nestlé undertak figur confirm expert opinion nestlé restrain directli indirectli provid data year sale volum trade associ entiti provid inform competitor market form enabl competitor directli deduct identifi exact sale volum nestlé nestlé agre provid data long present narrow oligopolist market structur persist french bottl water market nestlé time petit commiss show market condit structur french bottl water market chang suffici modif undertak nestlé agre hold separ oper asset interest acquir perrier complet sale bottl water oper singl entiti approv commiss buyer entiti structur financi person relationship nestlé perrier bsn parent entiti subsidiari offic director employe agent nestlé perrier bsn relationship natur buyer compet effect nestlé bsn aforement period separ hold pend sale asset divest nestlé agre structur made perrier busi oper sale trademark brand sale busi unit close manufactur unit dispos similar major asset includ leas assign pledg asset prior commiss approv approv deem commiss commun write nestlé opposit work dai receipt notif intend structur chang divestitur requir decis accomplish nestlé reason step assur asset perrier group maintain distinct saleabl asset preserv document book record relat perrier aforesaid period separ hold nestlé undertak permit perrier manag transfer busi secret commerci inform industri inform properti right confidenti proprietari natur obtain perrier commerci entiti nestlé group inform nestlé group purpos sell asset subject commit nestlé agre sell asset concern nestlé deem compli oblig enter bind contract sale divestitur asset purchas approv commiss provid sale complet time limit agre commiss nestlé reason step accomplish abovedescrib divestitur commiss sole discret nestlé request show good time extend period addit month nestlé acknowledg approv purchas commiss essenc accept undertak commiss establish effect competitor vi vi nestlé bsn depend strength purchas develop sourc brand sold purchas suffici financi resourc develop nation wide distribut organ adequ promot acquir brand suffici expertis field brand beverag food product main criteria commiss withhold approv show propos purchas credibl competitor compet effect nestlé bsn meet criteria nestlé acknowledg condit decis nestlé sell volvic bsn time fulli complet sale bottl water asset divest understood sale asset prerequisit find compat common market nestlé enjoin restrain acquir directli indirectli sourc brand divest pursuant undertak period year date decis prior written approv commiss context commiss consider market structur french bottl water market prejudic oblig merger regul respect commun dimens merger nestlé undertak inform commiss write acquisit bottl water entiti franc market share sale exceed percent period year date commiss decis commiss satisfi nestlé offer rang miner spring water sourc put buyer hand state amount approxim million litr capac nestlé undertaken sell capac brand portofolio miner spring water creat effect competit counteract duopolist domin result propos concentr sale volvic bsn provid buyer propos bundl brand sourc abil develop quickli asset nestlé sell capac offer commiss opinion suffici creat competit entiti french bottl water market constrain market power nestlé bsn entiti dispos capac french bottl water market amount approxim total capac previous held establish nation supplier suffici cover half present total market demand present sale brand low potenti develop high capac requir characterist buyer possess sourc sold includ sourc miner water spring water sparkl water number establish brand brand nation distribut brand water segment buyer packag acquir foothold major retail store access enabl entrant promot lesser brand introduc brand mean buyer suffici expertis develop food brand suffici financi resourc invest public requir support brand provid case expect entiti alb offer altern consum price high price nation miner water type market posit counteract current price polici nation supplier subject fulfil condit oblig set nestlé commit commiss conclud sale capac million litr agre portfolio brand strong buyer accept commiss suffici creat viabl competitor effect compet nestlé bsn prevent collect domin posit creat propos concentr subsequ sale volvic bsn sale asset divest place end time period set nestlé commit oblig accept nestlé breach commiss reserv pursuant articl revok decis accept modif propos requir nestlé divest asset interest perrier nestlé perrier fulli separ order restor condit effect competit provid articl action prejudic commiss impos fine pursuant articl adopt decis articl subject full complianc condit oblig contain nestl commit vi vi commiss set recit decis concentr notifi nestlé sa februari relat acquisit control sourc perrier sa declar compat common market articl decis address nestlé sa avenu nestlé ch vevei brussel juli commiss leon brittan vice presid oj correct version oj oj annex publish pursuant provis articl regul eec disclosur busi secret annex publish pursuant provis articl regul eec disclosur busi secret annex publish pursuant provis articl regul eec disclosur busi secret publish version decis inform hereinaft omit pursuant provis articl regul eec disclosur busi secret price report nation currenc belgian franc german mark convert french franc averag exchang rate annex publish pursuant provis articl regul eec disclosur busi secret annex publish pursuant provis articl regul eec disclosur busi secret annex publish pursuant provis articl regul eec disclosur busi secret annex publish pursuant provis articl regul eec disclosur busi secret annex publish pursuant provis articl regul eec disclosur busi secret annex publish pursuant provis articl regul eec 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