CEVMF - CTS Eventim: More Bricks On The Moat But Share Price Remains Unreasonable
Introduction
CTS Eventim (OTCPK:CEVMF, OTC:CEVMY), one of the leading international providers of ticketing services and live entertainment is a M&A machine. In July, CTS Eventim acquired a 48 percent stake in France Billet. France Billet is the ticketing subsidiary of France-based retailer Fnac Darty. But for now, the new joint venture entity will continue to do business as France Billet under the new ownership structure. However, CTS Eventim has an option for a majority purchase. Last month, the German company has announced that it acquired a majority stake in one of Russia’s