viagogo / StubHub merger inquiry
Source: gov.uk (2025-06-05)

The Competition and Markets Authority (CMA) investigated the completed acquisition by PUG LLC (viagogo) of the StubHub business of eBay Inc.

Consent under clause 4.3 of the final undertakings

Consent request accepted

5 June 2025: The CMA has accepted viagogo’s request for consent to reacquire the right to use certain StubHub brands and domain names in several jurisdictions outside of the UK and Europe.
- Final decision (PDF, 194KB) (https://assets.publishing.service.gov.uk/media/684151fd8dd459f8c947b45c/Final_decision_5_June_2025_1.pdf) (5.6.25)
Consultation on consent request: closed 27 May 2025

9 May 2025: Following a request from viagogo under clause 4.3 of the final undertakings, the CMA is inviting comments from third parties on whether to give consent to viagogo to reacquire the right to use certain StubHub brands and domain names in several jurisdictions outside of the UK and Europe.
- Notice of consultation on consent request (PDF, 137KB) (https://assets.publishing.service.gov.uk/media/681cbfa7155568d3da1d2aa0/Notice_of_consultation_on_consent_request.pdf) (9.5.25)
Phase 2

Administrative timetable

Referral date: 25 June 2020

Statutory deadline: 3 February 2021
- Administrative timetable (https://assets.publishing.service.gov.uk/media/5f045fa1d3bf7f7699160e77/viagogo_StubHub_-_Revised_administrative_timetable.pdf) (13.11.20)
Case closure summary

8 September 2021: The purchase of the Stubhub International Business by Digital Fuel LLC was approved by the CMA and completed on 3 September 2021. This brings the merger investigation to a close.
- Case closure summary (https://assets.publishing.service.gov.uk/media/61379adfe90e07044435c8d0/Viagogo_StubHub_Case_closure_summary.pdf) (8.9.21)
Final undertakings

9 April 2021: The CMA has accepted final undertakings and the reference has now been fully determined.
- Final undertakings (https://assets.publishing.service.gov.uk/media/60702d63d3bf7f400a6b2feb/Final_undertakings_.pdf) (9.4.21)
- Notice of acceptance of final undertakings (https://assets.publishing.service.gov.uk/media/60702d848fa8f57362ca4922/Final_undertakings_acceptance_letter.pdf) (9.4.21)
- Appointment of monitoring trustee (PDF, 119KB) (https://assets.publishing.service.gov.uk/media/683dbf3fa9b2749a8095e07d/Viagogo_StubHub_appointment_of_monitoring_trustee.pdf) (3.6.25)
Notice of proposal to accept final undertakings

22 March 2021: The CMA gives notice of the proposal to accept final undertakings and is inviting comments on the proposed draft undertakings by 5pm on 5 April 2021.
- Notice of proposal to accept final undertakings (https://assets.publishing.service.gov.uk/media/6054c84d8fa8f545cf209a34/Notice_of_Proposal_to_accept_Final_Undertakings_-_Non-Confidential.pdf) (22.3.21)
- Draft final undertakings (https://assets.publishing.service.gov.uk/media/6054c85fd3bf7f2f0fb70186/Draft_final_undertakings_-_Non_Confidential.pdf) (22.3.21)
Final report

2 February 2021: The CMA has found that the completed acquisition by viagogo of StubHub may give rise to competition concerns in the supply of uncapped secondary ticketing platform services for the resale of tickets to UK events. viagogo is required to sell off the StubHub International business.
- Summary of Phase 2 final report (https://assets.publishing.service.gov.uk/media/6018393e8fa8f53fbdc27dab/Summary_V-SH.pdf) (2.2.21)
- Final report (https://assets.publishing.service.gov.uk/media/601940a6d3bf7f70c3a495d1/v_sh_finalreport_.pdf) (2.2.21)
- Appendices and glossary (https://assets.publishing.service.gov.uk/media/6019442fd3bf7f70b95eea16/v_sh_FR_appendices_and_glossary__.pdf) (2.2.21)
- Press release: CMA requires viagogo to sell StubHub’s international business (https://www.gov.uk/government/news/cma-requires-viagogo-to-sell-stubhub-s-international-business) (2.2.21)
Notice of extension of statutory period
- Notice of extension (https://assets.publishing.service.gov.uk/media/5fad57ebe90e0703a5a92422/viagogo_StubHub_Notice_of_extension_section_39_3.pdf) (13.11.20)
Responses to provisional findings and possible remedies
- Craft Venture (https://assets.publishing.service.gov.uk/media/5fad57a48fa8f505355f5edc/Craft_Venture_response_to_RN_.pdf) (13.11.20)
- FanFair Alliance (https://assets.publishing.service.gov.uk/media/5fad57c5e90e0703a9316a5c/FanFair_Alliance_response_to_RN.pdf) (13.11.20)
- The Iridium Consultancy (https://assets.publishing.service.gov.uk/media/5fb64efbd3bf7f63dd4b99ad/The_Iridium_Consultancy_Response_to_RN_.pdf) (20.11.20)
- TixStock (https://assets.publishing.service.gov.uk/media/5fad577ee90e0703a41aba0a/TixStock_.pdf) (13.11.20)
- viagogo (https://assets.publishing.service.gov.uk/media/5fa9295f8fa8f5788f174acc/viagogo_StubHub_Summary_Proposed+.pdf) (10.11.20)
- viagogo / StubHub: Response to Provisional Findings (https://assets.publishing.service.gov.uk/media/5fd38364d3bf7f305a189678/Response_to_PFs_viagogostubhub.pdf) (14.12.20)
- viagogo/StubHub: Response to Notice of Possible Remedies (https://assets.publishing.service.gov.uk/media/5fd38339e90e076636a8a653/Response_to_NPR_viagogostubhub.pdf) (14.12.20)
Provisional findings

22 October 2020: The CMA has provisionally found competition concerns as part of its in-depth investigation of the completed acquisition by PUG LLC (viagogo) of the StubHub business of eBay Inc. The provisional findings report and the appendices will be published shortly.
- Provisional findings (https://assets.publishing.service.gov.uk/media/5f9180e6d3bf7f35f184eaeb/v_sh_PFs_version_for_publication_---.pdf) (23.10.20)
- Appendices and glossary (https://assets.publishing.service.gov.uk/media/5f90673f8fa8f57bc1e2a871/v_sh_appendices_and_glossary_--.pdf) (23.10.20)
- Summary of provisional findings (https://assets.publishing.service.gov.uk/media/5f902220e90e072c997e0de6/Summary_provisional_findings-.pdf) (22.10.20)
- Notice of provisional findings (https://assets.publishing.service.gov.uk/media/5f8ef7a6e90e0727d2facc07/Notice_of_PFs_viagogo_StubHub.pdf) (22.10.20)
- Notice of possible remedies (https://assets.publishing.service.gov.uk/media/5f901c35e90e072ca7b4369e/v_sh_Remedies_Notice.pdf) (22.10.20)
- Press notice: CMA finds competition concerns in viagogo and StubHub merger (https://www.gov.uk/government/news/cma-finds-competition-concerns-in-viagogo-and-stubhub-merger) (22.10.20)
Initial submission
- viagogo/StubHub (https://assets.publishing.service.gov.uk/media/5f58e43bd3bf7f723e21c023/VIAGOGO_Initial_Submission_-_for_publication_-_web.pdf) (9.9.20)
Issues statement

23 July 2020: The issues statement sets out the scope of the inquiry. It outlines initial theories on what might be adversely affecting competition, but it does not set out findings or conclusions.
- Issues statement (https://assets.publishing.service.gov.uk/media/5f195c123a6f407279ea872e/viagogo_stubhub_issues_statement.pdf) (23.7.20)
Interim order

3 July 2020: The CMA has made an Interim Order under section 81 of the Enterprise Act 2002.
- Notice of making an interim order (https://assets.publishing.service.gov.uk/media/5f045fb8d3bf7f769ba78d5f/Notice_of_making_an_interim_order.pdf) (8.7.20)
- Interim order (https://assets.publishing.service.gov.uk/media/5f05b115e90e0712cc90b6e9/Interim_order.pdf) (8.7.20)
- Directions to appoint a monitoring trustee (https://assets.publishing.service.gov.uk/media/5f046179e90e075c5582f609/Directions_to_appoint_a_monitoring_trustee.pdf) (8.7.20)
Amendments / consents granted:
- Derogation 26 August 2021 (https://assets.publishing.service.gov.uk/media/61379b40d3bf7f05aea852f4/210826_Derogation_letter_Consolidation_letter_26_Aug_21.pdf) (8.9.21)
- Derogation 17 May 2021 (https://assets.publishing.service.gov.uk/media/61362048d3bf7f05b86a6515/210517_Derogation_Letter_17_May.pdf) (8.9.21)
- Derogation 26 February 2021 (https://assets.publishing.service.gov.uk/media/61361e2fd3bf7f05b0afeb0b/210226_Variation_to_8_April_derogation_Feb_26_2.pdf) (8.9.21)
- Derogation 26 February 2021 (https://assets.publishing.service.gov.uk/media/61361d43d3bf7f05b0afeb09/210226_Derogation_Letter_26_Feb_1.pdf) (8.9.21)
- Derogation 23 February 2021 (https://assets.publishing.service.gov.uk/media/61361bdb8fa8f503ba3dc809/210223_Derogation_Letter_23_Feb.pdf) (8.9.21)
- Derogation 4 February 2021 (https://assets.publishing.service.gov.uk/media/6033b5928fa8f5432d803038/viagogo_SH_Derogation_letter_4Feb.pdf) (23.2.21)
- Derogation 20 January 2021 (https://assets.publishing.service.gov.uk/media/6033b40ae90e0766066037b5/viagogo_SH_Derogation_letter_20Jan.pdf) (23.2.21)
- Derogation 7 January 2021 (https://assets.publishing.service.gov.uk/media/6033b2f68fa8f5432ede78d5/viagogo_SH_Derogation_letter_7Jan.pdf) (23.2.21)
- Derogation 21 December 2020 (https://assets.publishing.service.gov.uk/media/6033b0e5d3bf7f264e517408/viagogo_Derogation_letter_21Dec.pdf) (23.2.21)
- Derogation 10 December 2020 (https://assets.publishing.service.gov.uk/media/60339c208fa8f54332e9ff9a/viagogo_SH_Derogation_Letter_10Dec.pdf) (23.2.21)
- Derogation 30 November 2020 (https://assets.publishing.service.gov.uk/media/60339910e90e07660b5ab239/viagogo_SH_Derogation_30Nov.pdf) (23.2.21)
- Derogation 22 September 2020 (https://assets.publishing.service.gov.uk/media/5f72fe92e90e0740d6b68841/Viagogo_Stubhub_Derogation.pdf) (29.9.20)
- Derogation 7 September 2020 (https://assets.publishing.service.gov.uk/media/5f5f2e388fa8f51067771054/Derogation_7_September_2020_-_viagog_StubHub.pdf) (14.9.20)
- Derogation 21 August 2020 (https://assets.publishing.service.gov.uk/media/5f58e41fd3bf7f723c19ca89/VIAGOGO_200821_Derogation_letter_-_web_---.pdf) (9.9.20)
- Derogation 19 August 2020 (https://assets.publishing.service.gov.uk/media/5f476dea8fa8f536379ef73d/200819_Derogation_letter.pdf) (27.8.20)
- Derogation 22 July 2020 (https://assets.publishing.service.gov.uk/media/5f2c22c9e90e0732dbca7a8f/V_S_22July_Derogation.pdf) (7.8.20)
- Derogation 14 July 2020 (https://assets.publishing.service.gov.uk/media/5f2c22db8fa8f57ac968fbb4/V_S_14_July_Derogation.pdf) (7.8.20)
Inquiry Group appointed

26 June 2020: The CMA has appointed the Inquiry Group.

Stuart McIntosh (https://www.gov.uk/government/publications/cma-panel-member-biographies-and-disclosures-of-interest/inquiry-chairs-biographies#stuart-mcintosh) (Group Chair), Richard Feasey (https://www.gov.uk/government/publications/cma-panel-member-biographies-and-disclosures-of-interest/panel-members-biographies#richard-feasey), Paul Hughes (https://www.gov.uk/government/publications/cma-panel-member-biographies-and-disclosures-of-interest/panel-members-biographies#paul-hughes) and Frances McLeman (https://www.gov.uk/government/publications/cma-panel-member-biographies-and-disclosures-of-interest/panel-members-biographies#frances-mcleman).

Terms of reference

25 June 2020: The CMA has referred the completed acquisition by PUG LLC (viagogo) of the StubHub business of eBay Inc. for an in depth investigation.
- Terms of reference (https://assets.publishing.service.gov.uk/media/5ef467a7d3bf7f7141cc9953/viagogo.StubHub_-_Terms_of_reference__pdf_a.pdf) (25.6.20)
Phase 1

Statutory timetable

Reference decision

25 June 2020: The CMA has referred the completed acquisition by PUG LLC (viagogo) of the StubHub business of eBay Inc. for an in depth investigation, on the basis that, on the information currently available to it, it is or may be the case that this merger constitutes a relevant merger situation that has resulted or may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom.
- Decision to refer (https://assets.publishing.service.gov.uk/media/5f117160e90e075e90a720ae/viagogo.StubHub_-__decision_to_refer.pdf) (17.7.20)
Reference unless undertakings accepted

11 June 2020: The CMA has decided, on the information currently available to it, that it is or may be the case that this merger has resulted or may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom. This merger will be referred for a phase 2 investigation unless the parties offer acceptable undertakings to address these competition concerns.
- Full text decision (https://assets.publishing.service.gov.uk/media/5f11717ed3bf7f5bb2fd2752/VSH_Decision_on_SLC.pdf) (17.7.20)
- Summary of phase 1 decision (https://assets.publishing.service.gov.uk/media/5ee0e2d0d3bf7f1eb35c3062/viagogo.StubHub_-_Summary_of_Phase_1_decision_web_version.pdf) (11.6.20)
- News story: Merger of viagogo and StubHub raises competition concerns (https://www.gov.uk/government/news/merger-of-viagogo-and-stubhub-raises-competition-concerns) (11.6.20)
Launch of merger inquiry

14 April 2020: The CMA announced the launch of its merger inquiry by notice to the parties.
- Commencement notice (https://assets.publishing.service.gov.uk/media/5e95ae8f86650c2dc63eff15/Notice_commencement_ViagogoStubHub.pdf) (15.4.20)
Directions to appoint a monitoring trustee

On 30 March 2020, pursuant to an initial enforcement order dated 7 January 2020, the CMA directed Pugnacious Endeavors, Inc. and PUG LLC to appoint a monitoring trustee in relation to the completed acquisition of the StubHub business of eBay Inc. by PUG LLC.
- Directions to appoint a monitoring trustee (https://assets.publishing.service.gov.uk/media/5e860e61e90e0706ed8a2beb/2020_03_30_-_viagogo_-_PUG_-_final_MT_directions_-_for_publication.pdf) (3.4.20)
Initial enforcement order

On 7 February 2020, the CMA served an initial enforcement order under section 72(2) of the Enterprise Act 2002 on Pugnacious Endeavors, Inc., PUG LLC and eBay Inc., in relation to the anticipated acquisition of the StubHub business of eBay Inc. by PUG LLC.
- Initial enforcement order (https://assets.publishing.service.gov.uk/media/5e4136c3ed915d0956ae52b6/viagogo_-_StubHub_-_IEO_-_Final_for_Publication.pdf) (10.2.20)
Amendments / consents granted
- Derogation 1 July 2020 (https://assets.publishing.service.gov.uk/media/5f2c22f78fa8f57acdd8defe/V_S_1_July_Derogation.pdf) (7.8.20)
- Derogation 26 June 2020 (https://assets.publishing.service.gov.uk/media/5f2c2304e90e0732e4bd8bdf/V_S_26_June_Derogation.pdf) (7.8.20)
- Derogation 24 June 2020 (https://assets.publishing.service.gov.uk/media/5efdf5acd3bf7f769287860e/viagogo_stubhub_24June_Derogation_letter.pdf) (3.7.20)
- Derogation 23 June 2020 (https://assets.publishing.service.gov.uk/media/5efdf58e3a6f4023d242ed91/viagogo_stubhub_23June_Derogation_letter.pdf) (3.7.20)
- Derogation 9 June 2020 (https://assets.publishing.service.gov.uk/media/5efdf5693a6f4023cc66796b/viagogo_stubhub_9June_Derogation_letter.pdf) (3.7.20)
- Derogation 27 May 2020 (https://assets.publishing.service.gov.uk/media/5efdf549d3bf7f76945f0bfb/viagogo_stubhub_27May_Derogation_letter.pdf) (3.7.20)
- Derogation 22 May 2020 (https://assets.publishing.service.gov.uk/media/5efdf52ce90e075c5d587c61/viagogo_stubhub_22May_Derogation_letter.pdf) (3.7.20)
- Derogation 4 May 2020 (https://assets.publishing.service.gov.uk/media/5ebe97cbe90e071e2a937fc4/Derogation_4_May_2020.pdf) (15.5.20)
- Derogation 30 April 2020 (https://assets.publishing.service.gov.uk/media/5ebe8fa586650c279a4c1d43/Derogation_30_April_2020.pdf) (15.5.20)
- Derogation 29 April 2020 (https://assets.publishing.service.gov.uk/media/5ebe8f96d3bf7f5d456fdf37/Derogation_29_April_2020.pdf) (15.5.20)
- Derogation 24 April 2020 (https://assets.publishing.service.gov.uk/media/5ebe8f8a86650c278e5eb02c/Derogation_24_April_2020.pdf) (15.5.20)
- Derogation 20 April 2020 (https://assets.publishing.service.gov.uk/media/5ea2c005d3bf7f7b4da11b8c/Derogation_20_April_2020.pdf) (24.4.20)
- Derogation 9 April 2020 (https://assets.publishing.service.gov.uk/media/5e99ae12e90e07048a6296d9/Viagogo_Stubhub_derogation_9_April_2020.pdf) (24.4.20)
- Derogation 8 April 2020 (https://assets.publishing.service.gov.uk/media/5ea29a8286650c0314ac74bb/Derogation_8_April_2020.pdf) (24.4.20)
- Derogation 19 March 2020 (https://assets.publishing.service.gov.uk/media/5e860ea786650c74472ce287/Derogation_letter_20200319_FINAL_Redacted_---.pdf) (3.4.20)
- Derogation 17 March 2020 (https://assets.publishing.service.gov.uk/media/5e860ebde90e0706f24fdff9/20200317_-_Derogation_letter_-_Final_-_Cash_flow_information__REDACTED_---.pdf) (3.4.20)
- Derogation 11 March 2020 (https://assets.publishing.service.gov.uk/media/5e831c54d3bf7f13450e4e7c/Derogation_letter_20200311_FINAL_REDACTED_---.pdf) (31.3.20)
- Derogation 4 March 2020 (https://assets.publishing.service.gov.uk/media/5e831c22e90e0706ed8a2b9d/Derogation_letter__Canada_board_appointment_FINAL_REDACTED_---.pdf) (31.3.20)
- Derogation 13 February 2020 (https://assets.publishing.service.gov.uk/media/5e5cd6bd86650c53b2cefc11/Derogation_letter_20200213__B__final_for_publication_house_style.pdf) (2.3.20)
- Derogation 12 February 2020 (https://assets.publishing.service.gov.uk/media/5e59027b86650c53b953ddcc/Derogation_letter_20200212_final_for_publication_house_style.pdf) (2.3.20)
Invitation to comment: now closed

13 December 2019: The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction has resulted in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.

To assist it with this assessment, the CMA invites comments on the transaction from any interested party.

These comments should be provided by the deadline set out above.

Contact

Please send written representations about any competition issues to:

xxx@xxx.xx (mailto:xxx@xxx.xx)