62As the Court of First Instance itself rightly held in its judgment in Case T-304/94 Europa Carton v Commission [1998] ECR II-869, paragraph 128: ‘To ignore the value of the applicant's internal cartonboard deliveries would inevitably give an unjustified advantage to vertically integrated companies. In such a case the benefit derived from the cartel might not be taken into account and the undertaking in question would avoid the imposition of a fine proportionate to its importance on the product market to which the infringement relates.’
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