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Watchdog blocks CTS Eventim deal

World News
December 21, 2018

GERMANY         

Acourt in Dusseldorf has upheld a ruling preventing CTS Eventim’s proposed takeover of Berlin-based promoter Four Artists.

The pan-Europe ticketing and promoting giant announced, in March, plans to acquire the event organiser, before the deal was blocked by competition watchdog Bundeskartellamt (Federal Cartel Office) last month, fearing further market consolidation.

“By acquiring Four Artists, CTS Eventim would gain control of additional relevant ticket quotas and expand its market position further,” was the regulator’s reason for the ruling.

Four Artists MD Alex Richter says, “There had been advance indications the CTS deal would be blocked, so I’m not surprised about the final judgment. Personally, I think the court verdict is wrong, but with courts and on the high seas, we are in God’s hands.”

“Four Artists is a very healthy company and we will continue the success story the next years also as an independent company.”

Concerts organised by Four Artists feature acts such as Jurassic 5, David Guetta, Reel Big Fish, Marlon Williams and The Lumineers.

A CTS Eventim spokesperson says it will consider the court’s verdict before deciding whether to appeal.

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