84The prospective analysis called for in relation to the review of concentrations, which consists of an examination of how such a concentration might alter the parameters of competition on the affected markets in order to establish whether it would give rise to a significant impediment to effective competition, makes it necessary to envisage various chains of cause and effect with a view to ascertaining which of them are the most likely (judgments of 15 February 2005, Commission v Tetra Laval, C‑12/03 P, EU:C:2005:87, paragraph 43; of 10 July 2008, Bertelsmann and Sony Corporation of America v Impala, C‑413/06 P, EU:C:2008:392, paragraph 47; and of 16 January 2019, Commission v United Parcel Service, C‑265/17 P, EU:C:2019:23, paragraph 32). That prospective analysis falls within the margin of discretion with regard to economic matters which is available to the Commission for the purposes of applying the substantive rules of Regulation No 139/2004, in particular Article 2 thereof which justifies the review by the EU Courts of a Commission decision relating to concentrations being confined to ascertaining that the facts have been accurately stated and that there has been no manifest error of assessment (see, to that effect, judgment of 10 July 2008, Bertelsmann and Sony Corporation of America v Impala, C‑413/06 P, EU:C:2008:392, paragraph 144 and the case-law cited).
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