Judgment_paragraph 48 · European Commission v FIH Holding A/S and FIH Erhvervsbank A/S (C-579/16 P)

48In that regard, the Court has stated that where a Member State confers, in its capacity as shareholder and not in its capacity as public authority, an economic advantage on an undertaking, the applicability of the private operator principle does not depend on the means used to place that undertaking at an advantage nor on the nature of the means used, which may fall within the State’s public powers (see, to that effect, judgments of 5 June 2012, Commission v EDF, C‑124/10 P, EU:C:2012:318, paragraphs 81 and 91 to 93).