Delivery Hero and Glovo are the two largest food delivery companies in Europe. Delivery Hero has held a minority stake in Glovo since July 2018 and acquired a majority stake in July 2022.
The European Commission has launched an antitrust investigation into Delivery Hero and Glovo to assess possible violations of competition rules. The press service of the European Commission reported this on Tuesday, July 23.
This is the first investigation into anti-competitive agreements related to an operator’s minority stake in a competitor.
Delivery Hero and Glovo are the two largest food delivery companies in Europe. Delivery Hero has held a minority stake in Glovo since July 2018 and acquired a majority stake in July 2022.
The EC suggests that before an acquisition, companies can allocate geographic markets, share commercially sensitive information and agree not to poach employees. If proven, such actions would violate EU competition rules.
If collusion is proven, the companies’ conduct may violate EU competition rules prohibiting cartels and restrictive business practices (Article 101 of the Treaty on the Functioning of the European Union and Article 53 of the EEC Agreement ).
As part of the investigation, the EC carried out unannounced inspections at the premises of Delivery Hero and Glovo in June 2022 and November 2023.
It was earlier reported that the Ministry of Economy has booked conscripts from companies Glovo, Visa, and Favbet Tech for the period of mobilization. This decision involved a stormy reaction in society. After that the First Deputy Prime Minister of Ukraine – Minister of Economy Yulia Sviridenko announced the cancellation of the order.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.