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vertically integrated undertaking

as defined in Directive 2003/54/EC of the European Parliament and of the Council of 26 June…, Article 2, point (21)

an undertaking or a group of undertakings whose mutual relationships are defined in Article 3(3) of Council Regulation (EEC) No 4064/89 of 21 December 1989 on the control of concentrations between undertakings(8) and where the undertaking/group concerned is performing at least one of the functions of transmission or distribution and at least one of the functions of generation or supply of electricity

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