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a)
Undertaking concerned;
b)
Persons or economic units in which the undertaking concerned;
1-
holds more than half of the capital or commercial assets, or
2-
holds the power to exercise more than half of the voting rights,
or
3-
holds the power to appoint more than half of the members
of the board of supervisors, board of directors or the bodies
authorized to represent the undertaking, or
4-
holds the power to manage operations;
c)
Persons or economic units which hold the rights and powers listed
in (b) over the undertaking concerned;
d)
Persons or economic units over which those listed in (c) hold the
rights and powers listed in (b);
e)
Persons or economic units over which those listed in (a) – (d)
jointly hold the rights and powers listed in (b).
In addition, in an operation of acquisition, only the turnover of the
transferred part is taken into account with respect to the transferring party.
Concerning joint ventures, double counting should be avoided when
the turnovers of the parties of the operation are calculated. Therefore, when
the joint venture is regarded as an undertaking concerned beside the parent
company, the turnover of the parent company will be calculated without
the turnover of the joint venture to be acquired and the turnover of the joint
venture will be calculated without the turnover of the parent company.
Article 7 of the Communiqué No. 2010/4 also foresees a possibility
of exemption from the notification obligation. As per the said provision,
even though the thresholds listed above are exceeded, the authorization
of the Board shall not be required for operations without any affected
market.
The definition of the “affected market” is given under Article 5 of the
Notification Form Concerning Mergers and Acquisitions. In accordance
with this article, the relevant product markets that might be affected by
the transaction to be notified and where,