gee mong
8 posts
Sep 08, 2021
9:25 PM
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Competition watchdog clears Viagogo-Stubhub merger
Ticketing site Viagogo has been cleared to go ahead with its £3bn acquisition of rival StubHub.
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The online ticket giant had promised to sell off StubHub's international wing to allay competition concerns.
The Competition and Markets Authority (CMA) said it had approved Digital Fuel Capital as a suitable new owner for the international wing of StubHub.
Viagogo can now buy StubHub's North American business.
Viagogo vice president of business development Cris Miller said: "We are pleased to confirm a buyer for StubHub International has been approved by the UK Competition and Markets Authority.
"This brings to an end the investigation into the much-anticipated merger of Viagogo and StubHub North America, which is now cleared to proceed.
"We appreciate the CMA's role in bringing the merger to this conclusion, and we look forward to sharing more details about the integration of the two businesses with our loyal customers and partners very soon."
Digital Fuel Capital is a private equity company based in Massachusetts.
The $4bn (£2.9bn) merger between Viagogo and StubHub has been held up amid competition concerns from the UK regulator.
The CMA has been looking into the deal since December 2019, a month after it was announced.
In October last year the watchdog blocked the deal provisionally after saying it could substantially lessen competition in the ticket resale sector.
Between them the two companies have 90% of the UK's secondary ticketing market.
Months later Viagogo offered to sell part of StubHub if the merger got approval.
In April this year the CMA said it would accept this if it approved a buyer.
Last Edited by gee mong on Sep 08, 2021 9:49 PM
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