122In that regard, it must be borne in mind, as set out at paragraphs 117 and 118 above, that the simultaneity, in the present case, of the public and private investments could constitute, at best, only one relevant factor in determining whether a contribution from public capital was in the nature of State aid. Consequently, the Commission’s statement at recital 354 of the contested decision, according to which the Community Courts had validated its analysis, is incorrect. Moreover, point 3.2.iii of the Communication on the application of Articles [87 EC] and [88 EC] to the acquisition of holdings by public authorities (Bulletin EC 9/1984), to which the Commission refers at footnote 167, establishes only a presumption that aid is not present in the event of concurrent and significant private investment. Consequently, as the Commission recognised in its written answers to the Court’s questions, simultaneity cannot in itself, even where significant private investments have been made, suffice for a finding that there has been no aid within the meaning of Article 87(1) EC without taking into consideration the other relevant facts and points of law.