Request for a preliminary ruling from the Înalta Curte de Casație și Justiție (Romania) lodged on 25 April 2019 — SC Romenergo SA and Aris Capital SA v Autoritatea de Supraveghere Financiară

(Case C-339/19)

Language of the case: Romanian

Referring court

Înalta Curte de Casație și Justiție

Parties to the main proceedings

Appellants: SC Romenergo SA and Aris Capital SA

Respondent: Autoritatea de Supraveghere Financiară

Question referred

Must Article 63 et seq. TFEU, read in conjunction with Article 2(2) of Directive 2004/25/EC ¹ and Article 87 of Directive 2001/34/EC, ² be interpreted as precluding a national legislative framework (in the present case Article 2(3)(j) of CNVM Regulation No 1/2006) which establishes a legal presumption of concerted practice in respect of holdings in companies whose shares are admitted to trading on a regulated market and which are treated as alternative investment funds (known as ‘financial investment companies’) with regard to:

persons who have carried out or who are carrying out economic transactions together, whether related or unrelated to the capital market, and

persons who, in carrying out economic transactions, use financial resources which have the same origin or which originate from different entities which are involved persons?

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¹ Directive 2004/25/EC of the European Parliament and of the Council of 21 April 2004 on takeover bids (OJ 2004 L 142, p. 12).

² Directive 2001/34/EC of the European Parliament and of the Council of 28 May 2001 on the admission of securities to official stock exchange listing and on information to be published on those securities (OJ 2001 L 184, p. 1).