Delivery Hero warns it could face €400M antitrust fine

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Berlin-based food delivery giant Delivery Hero has warned investors it may "ultimately" face an antitrust fine of up to €400 million.

The development, reported earlier by Reuters, follows unannounced raids by European Union authorities on the offices of Delivery Hero and its Spanish subsidiary Glovo back in July 2022 and November 2023.

The EU did not name the companies at the time, though both confirmed the inspections had taken place. The European Commission said it had concerns over potential breaches of competition laws against forming cartels and other restrictive business practices.

By Natasha Lomas.

Full story at Yahoo News.