(Reuters) – Britain’s competition watchdog will probe Takeaway.com’s buyout of Just Eat, possibly delaying completion of the multi-billion dollar deal to create one of the world’s largest meal delivery companies.
FILE PHOTO: Signage for Just Eat is seen on the window of a restaurant in London, Britain, August 5, 2019. REUTERS/Toby Melville/File Photo
The investigation is a blow for the online food ordering company after it fought a prolonged battle with rival Prosus NV to buy Just Eat, the market leader in UK food delivery.
The UK’s Competition and Markets Authority (CMA) changed its position on the deal and now believes a probe may be warranted, Takeaway said on Thursday, adding that the regulator would be looking into whether it would have re-entered the UK market without the current deal in place.
A CMA spokeswoman confirmed it would open an investigation but gave no further details.
Takeaway said it pulled out of the loss-making UK market in 2016 after struggling with…
Source Reuters Tech News