144The Court must first reject the argument that the General Court erred in law, in paragraph 188 of the judgment under appeal, in considering that the existence of an economic advantage must, in accordance with the principle of the private market economy operator, be assessed in the light of the conduct of the public undertaking conferring the advantage at issue, and not in the light of the conduct of the beneficiary. According to settled case-law, for the application of the private investor test, it is necessary to determine whether the same advantage as that made available to the beneficiary undertaking through State resources would have been granted by a private investor in normal market conditions (see, to that effect, the judgment in Commission v EDF, C‑124/10 P, EU:C:2012:318, paragraphs 78 and 79).
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