26.2.1999 Official Journal of the European Communities L 50/27 (Acts whose publication is not obligatory) COMMISSION COMMISSION DECISION of 20 May 1998 declaring a concentration to be compatible with the common market and the functioning of the EEA Agreement (Case IV/M.1016 — Price Waterhouse/Coopers & Lybrand) (notified under document number C(1998) 1388) (Only the English text is authentic) (Text with EEA relevance) (1999/152/EC) THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Community, Having regard to the Agreement on the European Economic Area and in particular Article 57(2)(a) thereof, Having regard to Council Regulation (EEC) No 4064/89 of 21 December 1989 on the control of concentrations between undertakings ('), as last amended by Regulation (EC) No 1310/97 (%), and in particular Article 8(2) thereof, Having regard to the Commission decision of 21 January 1998 to initiate proceedings in this case, Having regard to the opinion of the Advisory Committee on Concentrations (°), Whereas: (1) On 11 December 1997, the Commission received in complete form a notification of a proposed concentration pursuant to Article 4 of Regulation (EEC) No 4064/89, by which Price Waterhouse and Coopers & Lybrand would enter into a full merger () OJ L 395, 30. 12. 1989, p. 1; corrected version OJ L 257, 21. 9.71990, p. 13. ?) OJ L 180, 9. 7. 1997, p. 1. () OJ C 56, 26. 2. 1999, p. 12. for the purposes of Article 3(1)(a) of that Regula- tion. Since the agreement in question was entered into before 1 March 1998, the Commission applied Regulation (EEC) No 4064/89 (hereinafter referred to as ‘the Merger Regulation’) as it stood prior to the amendment made by Regulation (EC) No 1310/97. After preliminary examination of the notification, the Commission concluded that the proposed concentration could create or strengthen a dom- inant position as a result of which effective competition would be significantly impeded in the common market or in a substantial part of it, and as such raised serious doubts as to its compatibility with the common market. I. THE PARTIES Both Price Waterhouse (PW’) and Coopers & Lybrand (‘C & L) are two of the so-called Big Six audit and accounting organisations worldwide (the other four being Arthur Andersen (‘AA’), Deloitte Touche Tohmatsui International (‘DTTT), KPMG, and Ernst & Young (‘EY’)).