A proposed merger between the ticketing agency Ticketmaster and live music promoter Live Nation has been given the green light, following an investigation by the Competition Commission (CC).

Both US-based companies have been given the go-ahead by the commission in its final report into the proposals, despite fears that it would restrict competition and affect CTS Eventim's plans to enter the UK ticketing market. According to the CC, the merged business "will have little scope to affect Eventim", which will be allocated a proportion of tickets to Live Nation events, while receiving a fee for every ticket sold.

The commission's ruling represents a u-turn from its provisional decision published in October, which had opposed the proposed merger on the grounds it could impact CTS Eventim's chances of entering the UK market. CTS Eventim had previously secured an agreement with Live Nation to provide the promoter with ticketing software and services as part of its efforts to enter the UK, but the CC has now altered its position following a consultation process.

CC deputy chair and inquiry chair Christopher Clarke said: "Our decision differs from our provisional findings in October, which is unusual but not unique. The very purpose of publishing our provisional conclusions is to provide all parties with the opportunity to review them and to put forward new evidence or arguments. "In this case, when we considered the totality of the evidence, arguments and analysis, we reached the conclusion that the merger will not result in a substantial lessening of competition in the market for live music ticket retailing or in any other market in the UK, including live music promotion and live music venues."