Industry News

CTS Eventim may appeal German decision

CTS Eventim could appeal Germany’s competition regulator’s decision to prohibit its acquisition of Four Artists.

It was announced last week that the Federal Cartel Office (Bundeskartellamt) had denied CTS Eventim’s bid to buy the Berlin-based concert and event agency because it could lead to an unfair advantage in the live events sector

Four Artists’ client list includes around 300 national and international artists, including The Fantastic Four, Clueso, Marteria, David Guetta, Rea Garvey and Andreas Bourani.

CTS Eventim said it is taking legal advice over how to proceed.

In a statement released to The Ticketing Business, the company said: “We have taken note of the decision by the Cartel Office and are currently examining the grounds for said decision.

“We believe that the takeover of Four Artists is eligible for approval and therefore reserve the right to seek legal remedies against the ruling.”

Bundeskartellamt is also currently conducting a lawsuit against CTS Eventim on suspicion of abuse of a dominant position by concluding exclusive contracts with tour operators and advance booking offices.

Earlier this year Ticketcorner, which is part-owned by CTS Eventim, was barred from merging with rival StarTicket in Switzerland.

However, its M&A push saw it successfully enter the Italian live events market earlier this year following the acquisition of a majority stake in promoter Vertigo.