Live Nation’s acquisition of Altice Arena held up

Portugal’s Competition Authority has expressed doubts about the competitive effect of Live Nation’s acquisition of Altice Arena, the country’s largest arena.

In April, it was revealed that Live Nation was purchasing a majority stake in the arena’s owner, Arena Atlântico, in addition to an “indirect controlling stake” in leading promoter Ritmos e Blues.

Now, the deal is undergoing an in-depth investigation by the Competition Authority that will prolong a final decision on whether LN can purchase the arena, according to national newspaper Expresso.

Chief among the regulator’s concerns are Live Nation’s “incentives to operate Altice Arena for its own benefit” as well as “the private or total closure of access to the Altice Arena by third party promoters”.

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