(1) Section 277(1) of the German Commercial Code shall apply to the calculation of turnover. If an undertaking exclusively uses a different internationally recognised accounting standard for its regular corporate accounting, this standard shall be decisive for calculating the turnover. Turnover from the supply of goods and services between affiliated undertakings (intra-group turnover) as well as excise taxes shall not be taken into account.
(2) For trade in goods, only three quarters of the turnover achieved shall be taken into account.
(3) For the publication, production and distribution of newspapers, magazines and parts thereof, four times the amount of the turnover achieved and for the production, distribution and broadcasting of radio and television programmes, and the sale of radio and television advertising time, eight times the amount of the turnover achieved shall be taken into account.
(4) In the case of credit institutions, financial institutions, building and loan associations and external investment management companies within the meaning of Section 17(2) no 1 of the German Investment Act [Kapitalanlagegesetzbuch], turnover shall be replaced by the total amount of the income referred to in Section 34(2) sentence 1 no 1 a) to e) of the Regulation on the Rendering of Accounts of Credit Institutions [Verordnung über die Rechnungslegung der Kreditinstitute], as amended from time to time, minus value added tax and other taxes directly levied on such income. In the case of insurance undertakings, the premium income generated in the last completed business year shall be relevant. Premium income shall be income from insurance and reinsurance business including reinsurance cessions.
(4a) Consideration within the meaning of Section 35(1a) shall include
1. all assets and other consideration in kind which the seller receives from the acquirer in connection with the concentration pursuant to Section 37(1) (purchase price) and
2. the value of any liabilities assumed by the acquirer.
(5) If a concentration arises from the acquisition of parts of one or several undertakings, only that turnover or market share attributable to the divested parts shall be taken into account on the part of the seller, irrespective of whether or not these parts have a separate legal personality. This shall not apply if the seller maintains control within the meaning of Section 37(1) no 2 or continues to hold 25 per cent or more of the shares. Two or more acquisition transactions within the meaning of sentence 1 that are effected between the same persons or undertakings within a period of two years shall be treated as a single concentration if, as a result, the turnover thresholds under Section 35(1) are reached or the conditions under Section 35(1a) are fulfilled; the date of the concentration shall be the date of the last acquisition transaction.