Viagogo’s $4 billion acquisition of StubHub faces further scrutiny after the U.K.’s competition watchdog opened an “in-depth investigation” into the merger.The Competition and Markets Authority (CMA) announced on Thursday (June 25) that Viagogo has failed to address its concerns that the merger could result in a substantial lessening of competition, leading to music fans paying more for tickets.As a result, the regulator has launched a ‘Phase 2’ inquiry into the deal before deciding what, if any action, should be taken.
Phase 2 investigations by the CMA are conducted by an independent panel and can last up to 24 weeks (extended by up to eight weeks in special circumstances).If the CMA rules that the merger of Viagogo and StubHub does.
Read more on billboard.com