CTS Eventim AG & Co. KGaA: Statement of CTS EVENTIM AG & Co. KGaA regarding the December 4, 2017 press release of the Federal Cartel Office (Bundeskartellamt)

Statement of CTS EVENTIM AG & Co. KGaA

regarding the December 4, 2017 press release of the Federal Cartel Office (Bundeskartellamt)

The decision of the Federal Cartel Office ignores the fierce competition in the market for ticket services, which is constantly increasing as a result of frequent market entries by digital providers from Germany and abroad.

Against this background, we have to assume that the Cartel Office has gone into this procedure with a preconceived notion that does not adequately reflect this development. All the investigations in the three-year proceedings were apparently aimed at confirming this belief.

We regret that the agency has not adequately considered our strong counter-arguments, especially as they are supported by current studies and economic expert reports. In case they had, the investigation would have led to a different outcome.

For these reasons, we will not accept the decision of the Federal Cartel Office and engage the competent courts to correct it.