On 8 December 1992, Philips Electronics N.V., Thomson Consumer Electronics S.A. and SAGEM notified an agreement by which they will create a joint venture company called Flat Panel Display Co. B.V. which will be active in the development, design, manufacture and sale of active matrix liquid crystal displays. The Commission noted that in the context of a joint venture established primarily to meet the requirements of its parent companies, the autonomy of the joint venture could be called into question. Furthermore, the Commission took the view that the parent companies and the joint venture will be active in the same market and/or in closely related markets and as a result, it is reasonably foreeseeable that their competitive behaviour will be co-ordinated. Consequently, the operation is to be treated as a co-operative joint venture to be examined under Article 85. * * *
