Eventim To Snaffle TicketTurk?

German ticketing giant CTS Eventim is believed to be on the verge of cutting a deal for all or at least a big part of TicketTurk, Turkey’s second-largest supplier.

There’s been no CTS press release or ad hoc note on the company Web site, although TicketTurk is now being included on the page that lists the Bremen-based outfit’s European satellite companies.

CTS legal and communications chief Rainer Appel told Pollstar the company has no comment to make on the situation in Turkey.

It would be a good time for Klaus-Peter Schulenburg’s company to announce its long-expected expansion into Turkey, where Ticketmaster acquired market-leader Biletix for a reported US$17 million last October, because it may further boost a share price that’s recovered half the ground it lost when it was subject to a hard-hitting attack from German business analysts.

A report from SES Research published July 10 under a heading that said, "The Completely Wrong Price," referring to the fact the analysts think the share is grossly overvalued, caused the stock to crash 27 percent from euro 36.28 to euro 26.55.

It has since recovered to about euro 32.25, going up more than three euros since the start of October.

Last year Schulenberg wouldn’t comment on whether his interest in the company had resulted in a bid. But, along with Fenerbache soccer club chairman Sadettin Saran’s huge media group, CTS Eventim has long been rumoured to be trying to work out a deal with TicketTurk.

The company has about 20 percent of the market and virtually no clients among contemporary live music promoters, which use 80 percent market leading Biletix.

TicketTurk’s standing among the rock and pop promoters might be hurt by its refusal to make payments it allegedly guaranteed to U.S. rock acts Garbage and Megadeth for their appearances at Rock Istanbul 2005.

Istanbul-based Charmenko, the agency that put the acts on the bill, has what appear to be written undertakings to pay, signed by TicketTurk managing director Gulseren Onanc.

Onanc denies even making the undertakings, while her lawyers at Eckmecki & Karakus say the undertakings aren’t valid under Turkish law.

The matter’s been rumbling slowly through the courts for two years.