The merger deal struck by Ticketmaster Entertainment and Live Nation suffered a further setback on Thursday after U.K. antitrust authorities poured cold water on their plans to create a live music powerhouse.

In a provisional ruling, the Competition Commission said the tie-up between the U.S.'s top ticket seller and the world’s largest concert promoter could "severely inhibit" a new rival from competing in the U.K. ticket retailing market.

Read more at the Financial Times [1].