UK CMA to Probe Viagogo's Acquisition of eBay's StubHub Ticketing Business
December 13 2019 - 6:55AM
Dow Jones News
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)
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