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REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 01/07/2005

In electronic form on the EUR-Lex website under document number 32005M3843

Office for Official Publications of the European Communities L-2985 Luxembourg

COMMISSION OF THE EUROPEAN COMMUNITIES

Brussels, 01/07/2005

SG-Greffe(2005) D/202875

PUBLIC VERSION

MERGER PROCEDURE ARTICLE 6(1)(b) DECISION

SIMPLIFIED PROCEDURE

:

To the notifying parties

Dear Sir/Madam,

Subject: Case No COMP/M.3843 ñ Macquarie/CDPQ/Yellow Brick Road Notification of 27/05/2005 pursuant to Article 4 of Council Regulation No 139/20041

1.On 27/05/2005 the Commission received notification of a proposed transaction pursuant to Article 4 of Council Regulation (EC) No. 139/2004 by which Macquarie Bank Limited (ìMacquarieî) and Caisse de DÈpÙt et Placement du QuÈbec (ìCDPQî) acquire within the meaning of Article 3(1)(b) of Council Regulation joint control over Yellow Brick Road Group (including Yellow Brick Road (DH1) B.V., Yellow Brick Road (LH1) S.·.r.l. and Mediatel Holding GmbH, together with all their subsidiaries) through a jointly controlled acquisition vehicle European Directories S.A. (ìBidcoî), by way of purchase of shares.

The business activities of the undertakings concerned are:

-- for Macquarie: provision of specialist financial and investment banking services;

-- for CDPQ: management of funds for public and private pension and insurance funds;

-- for YBR Group: publication and supply of telephone directories, both in printed and electronic form, the sale of advertising space in these directories and the provision of directory assistance services.

1OJ L 24, 29.1.2004 p. 1.

Commission europÈenne, B-1049 Bruxelles / Europese Commissie, B-1049 Brussel - Belgium. Telephone: (32-2) 299 11 11.

3.After examination of the notification, the Commission has concluded that the notified operation falls within the scope of Council Regulation (EC) No. 139/2004 and of paragraph 5 (b), of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No. 139/2004.

4.For the reasons set out in the Notice on a simplified procedure, the Commission has decided not to oppose the notified operation and to declare it compatible with the common market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of Council Regulation (EC) No. 139/2004.

For the Commission (signed) Neelie KROES Member of the Commission

2Available on DG COMP website: http://europa.eu.int/comm/competition/mergers/legislation/consultation/simplified_tru.pdf.

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