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)
December 04, 2017 at 07:55 pm IST
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DGAP-News: CTS Eventim AG & Co. KGaA / Key word(s): Miscellaneous
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)
04.12.2017 / 15:20
The issuer is solely responsible for the content of this announcement.
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.
04.12.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
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Language:
English
Company:
CTS Eventim AG & Co. KGaA
Rablstr. 26
81669 München
Germany
Phone:
0421/ 3666-233
Fax:
0421/ 3666-290
E-mail:
tatjana.wilhelm@eventim.de
Internet:
www.eventim.de
ISIN:
DE0005470306
WKN:
547030
Indices:
MDAX
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
Cts Eventim AG & Co KgaA is a Germany-based company that operates in the leisure events and cinema ticketing markets. The Company operates in two segments namely Ticketing and Live Entertainment. The objects of the Ticketing segment are to promote, sell, broker, distribute, and market tickets for cinema, concert, theater, art, sports and other events in Germany and abroad, using data processing and data transmission technologies. Its tickets are marketed through its network platform (eventim.net), its in-house ticketing product (eventim.inhouse), the sports ticketing product (eventim.tixx) and a proprietary solution for ticket sales and admission control in stadiums and arenas. The objects of the Live Entertainment segment are to plan, prepare and execute tours and events, especially music events and concerts, and to market music productions. Internationally venues are also operated. The Company operates kinoheld GmbH as a majority owned subsidiary.
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)