Delivery Hero shares tumbled 11% in early trading on Monday after the German online food takeaway service announced it may be fined over 400 million euros ($433 million) for antitrust violations
“alleged anti-competitive agreement to share national markets, exchanges of commercially sensitive information, and no-poach agreements,” the business stated in a statement released on Sunday evening.
The maximum fine would be for these violations.
In the same way it did during unannounced inspections in July 2022 and November 2023, Delivery Hero stated that it will work with the European Commission.
In addition to this, it will significantly boost its equivalent provision, which it had previously constructed in the amount of 186 million euros, according to the organization.
“the fact pattern that it creates” is the most significant obstacle, according to analysts at Jefferies, who noted that the most important hurdle is not the magnitude of the punishment or the company’s capacity to pay it.
