uber: Amazon was the lead investor in a 575m 442m funding round, announced in May, which reportedly gave it a 16% stake in Deliveroo, according to The Guardian. Deliveroo has been seeking investment to boost its performance against other deep-pocketed rivals such as Uber Eats, owned by the taxi app company Uber, and Just Eat, the FTSE 100 delivery platform that is the subject of a bidding war. The Competition and Markets Authority announced the probe on Friday after Amazon and Deliveroo declined to offer concessions in response to the CMA's initial raising of concerns earlier this month. However, the CMA's decision to refer the transaction to a full investigation on Friday will cast doubt on whether the investment can go ahead. The CMA said the deal could leave customers, restaurants and grocers facing higher prices and lower-quality services. The regulator has the power to block the investment completely or demand specific remedies from the companies.
(news.financializer.com). As
reported in the news.
Tagged under uber, deliveroo topics.