UK CMA to Probe Viagogo's Acquisition of eBay's StubHub Ticketing Business

Date : 12/13/2019 @ 11:55AM
Source : Dow Jones News
Stock : eBay Inc (EBAY)
Quote : 38.14  0.95 (2.55%) @ 12:21AM
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UK CMA to Probe Viagogo's Acquisition of eBay's StubHub Ticketing Business

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   By Ian Walker 
 

The U.K. Competition and Markets Authority said Friday that it is considering whether Viagogo Entertainment Inc.'s acquisition of EBay Inc's (EBAY) StubHub ticketing business will lessen competition in any U.K. market.

The regulator said that it is inviting comments from interested parties on their views by Jan. 10 before it makes a decision whether to proceed with a formal review of the deal.

EBay said last month that it had reached a deal to sell StubHub to Swiss ticket reseller Viagogo for $4.05 billion in cash. StubHub, one of the most popular platforms to buy and sell tickets to concerts, sports and other events, accounted for about 14% of the company's revenue in the third quarter.

Geneva-based Viagogo is an online marketplace for the resale of live sports, music and entertainment tickets. While both companies engage in ticket resale, Viagogo is a significant player internationally, while StubHub is mostly present in the U.S.

The deal is expected to close by the end of the first quarter of 2020, subject to regulatory approval and customary closing conditions.

 

Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

 

(END) Dow Jones Newswires

December 13, 2019 06:40 ET (11:40 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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