Judgment_paragraph 111 · Servizio Elettrico Nazionale SpA and Others v Autorità Garante della Concorrenza e del Mercato and Others (C-377/20)

111Moreover, it is clear from the case-law recalled above that, in order to form a single undertaking with its subsidiary, a parent company must exercise control over the conduct of its subsidiary. This may be demonstrated by showing either that the parent company has the ability to exercise a decisive influence over its subsidiary’s conduct and, moreover, that it has actually exercised such influence, or that that subsidiary does not decide independently upon its own conduct on the market but carries out, in all material respects, the instructions given to it by the parent company, regard being had in particular to the economic, organisational and legal links between those two legal entities (see, inter alia, judgment of 25 March 2021, Deutsche Telekom v Commission, C‑152/19 P, EU:C:2021:238, paragraphs 94 and 95).