Competition watchdog launches probe into proposed takeover of ticket resale website Stubhub by rival

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Competition watchdog launches formal probe into proposed takeover of ticket resale website Stubhub by rival Viagogo

By Daily Mail City & Finance Reporter

Published: | Updated:

The competition watchdog has launched a formal probe into the proposed takeover of ticket resale website Stubhub by rival Viagogo. 

The Competition and Markets Authority (CMA) had previously said in December it had concerns about the £3.2 billion deal. It will report back by June 11. 

Off-key: Ed Sheeran has refused to accept tickets sold through Viagogo at shows, but tickets for gigs by many stars such as Rita Ora (pictured) are still sold

If it has significant concerns the takeover on competition, it could proceed to a more in-depth secondstage probe – and then potentially block the deal. Viagogo has said the takeover will create a tickets group covering 70 countries. 

Its chief executive Eric Baker has close links to Stubhub, having co-founded the company. He left before it was sold to Ebay for about £250m in 2007. 

But consumer groups claim the merger would hand a monopoly to Viagogo, which has been criticised for its business practices. 

Singer-songwriter Ed Sheeran has refused to accept tickets sold through Viagogo at shows because they are resold at prices higher than face value, but tickets for gigs by many stars such as Rita Ora are still sold.

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