Topics
later
AI
Amazon
Image Credits:GABRIEL BOUYS/AFP via Getty(opens in a new window)/ Getty Images under a license.
Apps
Biotech & Health
Climate
Image Credits:GABRIEL BOUYS/AFP via Getty(opens in a new window)/ Getty Images under a license.
Cloud Computing
Commerce
Crypto
Enterprise
EVs
Fintech
fundraise
Gadgets
Gaming
Government & Policy
ironware
Layoffs
Media & Entertainment
Meta
Microsoft
concealment
Robotics
protection
societal
outer space
startup
TikTok
conveyance
Venture
More from TechCrunch
case
Startup Battlefield
StrictlyVC
Podcasts
Videos
Partner Content
TechCrunch Brand Studio
Crunchboard
Contact Us
Berlin - based intellectual nourishment delivery colossus Delivery Hero has warned investor it may “ ultimately ” face an antitrust mulct of up to € 400 million .
The developing , reported earlier byReuters , follow unannounced raids by European Union authorization on the position of Delivery Hero and its Spanish subsidiary Glovo back inJuly 2022andNovember 2023 .
The EU did not name the company at the sentence , though both confirmed the inspections had taken place . The European Commission said it had business over potential breaches of contention law against shape cartels and other restrictive business practices .
In anote to investorsissued on Sunday eventide local prison term , Delivery Hero read it could confront the sanction for “ alleged anti - competitive agreement to partake in national market place , commutation of commercially sensitive entropy and no - poach agreements . ”
In its annual reputation last year , Delivery Hero say it had do away € 186 million follow the unannounced review in the EU .
“ The intent to increase the provision is based on recent informal engagement with the European Commission and subsequent elaborated depth psychology , ” it wrote , explain the increased amount it ’s fix aside . “ Delivery Hero intends to in full cooperate with the European Commission as it did during the unheralded review in July 2022 and November 2023 . ”
The German giant acquired a majority interest in Glovo atthe end of 2021 — about half a yr after the Spanish rival had shelled out toroll up three of its zep - brands .
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
Fast - paced integration has been a staple feature of the tenuous - margin intellectual nourishment delivery space as instrumentalist have jockeyed to catch the top ( one or two ) place in grocery in the hopes of making the economics stack up .
Post - pandemic , we ’ve seenscores of market exitsand a string of businesses shutting up shop after the lockdown - related boom for food speech became a remote retentiveness — underscoring quite how challenging the food delivery business model is .
