LONDON (Reuters) – Amazon’s purchase of a stake in Deliveroo has been provisionally cleared by Britain’s competition regulator in view of a potentially fatal deterioration in the online food delivery group’s finances because of the coronavirus pandemic.
FILE PHOTO: A deliveroo rider cycles on Clapham Common, while the spread of the coronavirus disease (COVID-19) continues, London, Britain, April 13, 2020. REUTERS/Dylan Martinez/File Photo
Amazon.com Inc (AMZN.O) led a $575 million fundraising in Deliveroo last May, making what the two parties called “a minority investment” and pitching it against Uber Eats (UBER.N) and Takeaway.com (TKWY.AS) in the global race to dominate the market for meal deliveries.
Britain’s Competition and Markets Authority (CMA) launched a detailed investigation in December, saying the deal could damage competition by discouraging Amazon from re-entering the online restaurant food market and further developing its presence within the online…
Source Reuters Tech News
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