49It is also apparent from the Court’s case-law that an entity which, owning controlling shareholdings in a company, actually exercises that control by involving itself directly or indirectly in the management thereof must be regarded as taking part in the economic activity carried on by the controlled undertaking (Case C-222/04 Cassa di Risparmio di Firenze and Others [2006] ECR I-289, paragraphs 112 and 118).
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