Judgment_paragraph 30 · ING Pensii, Societate de Administrare a unui Fond de Pensii Administrat Privat SA v Consiliul Concurenței (C-172/14)

30According to settled case-law established by the judgment in LTM (56/65, EU:C:1966:38), the alternative nature of those requirements, indicated by the conjunction ‘or’, leads to the need to consider, in the first place, the precise purpose of the concerted practice, in the economic context in which it is to be pursued. Where, however, an analysis of the terms on which the concerted practice is conducted does not reveal a sufficient degree of harm to competition, the effects of the concerted practice should then be considered and, for it to be caught by the prohibition, it is necessary to find that those factors are present which show that competition has in fact been prevented, restricted or distorted to an appreciable extent (see judgments in Beef Industry Development Society and Barry Brothers, C‑209/07, EU:C:2008:643, paragraph 15, and T-Mobile Netherlands and Others, C‑8/08, EU:C:2009:343, paragraph 28).