The Competition and Markets Authority has completed its investigation into the merger of Viagogo and StubHub North America.
The CMA had noted the “adverse effects” of the merger on competition and called for the partial divestiture of the StubHub International business.
The regulator today closed the merger investigation after approving the purchaser, Digital Fuel Capital, for StubHub International. It means the merger can now go ahead.
“We are pleased to confirm a buyer for StubHub International has been approved by the UK Competition and Markets Authority," said Cris Miller, VP of business development, Viagogo. "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."
The statement from the secondary ticketing platform added: "As the live events industry emerges from the coronavirus pandemic, robust competition in the ticketing market is needed more than ever and Viagogo will continue to take its’ essential role in the live events industry very seriously. Viagogo and StubHub will always remain committed to working with regulators, while providing safe and secure platforms for people to buy and sell tickets to events all over the world.”
Adam Webb, of the FanFair Alliance, reacted to the latest developments.
"Good luck to Digital Fuel Capital," he said. "For their sake, I hope they didn't pay very much. As well as reviving a distressed brand, what appears to be a team of US investment bankers with a portfolio of coffee and bathroom businesses will now be required to operate StubHub International as a direct competitor to Viagogo - a website with a long and storied history of breaking the law and that's dominated by large-scale touts and non-existent tickets. This divestment has car crash written all over it."
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