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UK competition regulator puts brake on Amazon's Deliveroo investment

Video Credit: Reuters Studio - Duration: 01:28s - Published
UK competition regulator puts brake on Amazon's Deliveroo investment

UK competition regulator puts brake on Amazon's Deliveroo investment

Britain's competition regulator on Friday took action to pause Amazon's investment in online food delivery group Deliveroo by serving an initial enforcement order on the two companies.

Edward Baran reports.

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Britain's competition regulator has taken action to pause Amazon's investment in online food delivery group Deliveroo while it considers launching a full investigation.

On Friday the Competition and Markets Authority said it served an initial enforcement order on the two companies at the end of last month.

Amazon led a $575 million fundraising in Deliveroo in May- which they both called a "minority investment" to pit itself against Uber Eats in the global race to dominate the market for meal deliveries.

The Competition and Markets Authority's initial enforcement order is used when the watchdog has a concern about a transaction.

It typically prevents businesses from pressing ahead with a tie-up while the regulator decides if it needs to formally investigate.

The regulator uses it if it suspects that two enterprises "have ceased to be distinct" or that arrangements are being put in place which could lead to that.

Deliveroo said the two companies had been working closely with regulators to obtain their approval and said the investment will enable it to expand, innovate and create jobs.

Deliveroo founder and CEO Will Shu said it would also enable the loss-making group to increase its reach.

And look to expanding its own kitchens that can be rented to restaurants to meet demand.

Neither Deliveroo nor Amazon have given a figure for the contribution.

The companies compete with Britain's Just Eat and with Uber Eats in the global takeaway delivery market, which is worth $100 billion.




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