(CelebrityAccess) — UK anti-trust regulator the Competition & Markets Authority has put the planned acquisition of StubHub by rival Viagogo on hold for the foreseeable future.
In an enforcement order published on Monday, the CMA expressed concern about the proposed merger and ordered the two companies to avoid any action which might “lead to the integration of the Stubhub business with the Viagogo business”.
Furthermore, the CMA stated that it has concerns that the two companies may try to merge prior to regulatory approval and will now require them to provide a status report every two weeks to demonstrate that the two businesses remain independent.
Both companies must also inform the CMA of any material change, including key staff who leave or join, any business interruptions, “substantial” changes with clients, and substantial changes with key suppliers.
The deal for Switzerland-based Viagogo to acquire Stubhub from e-commerce site eBay for $4.05 billion, was announced in November.