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However, the only reference made by the Board to the above-stat-
ed cumulative conditions in the decision without explaining their con-
tent may be criticized. Considering that Board decisions should
enlighten business practice, their decisions should be more detailed in
order to better guide the behavior of undertakings.
In addition to the above, the non-examination by the Board of the
existence of the two other conditions because the first condition is not
realized is another point to be criticized. Such an analysis would provide
for more reliable information on the market conditions and would
acknowledge the other players on the market about the Board’s perspec-
tive.
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NEWSLETTER 2012