Takeaway.com and Just Eat have delayed plans to list their combined company on the London Stock Exchange by one week after UK competition authorities launched a last-minute investigation into their £6bn merger.
Takeaway said on Friday the company will be renamed “Just Eat Takeaway.com” on January 31, and trading in the combined entity’s shares will begin February 3.
Trading in the new stock had been expected to begin on Monday, but the deal, one of the biggest in UK technology in recent years, has been thrown into doubt by the Competition and Markets Authority’s decision to open an investigation.
The CMA’s probe, which was announced on Thursday, follows a months-long review of Amazon’s planned minority stake in Deliveroo, Just Eat’s biggest British rival. The regulator is assessing whether the deals would prevent a new entrant breaking into the food delivery market in the UK, and has invited interested parties to comment by February 6.
US hedge fund Cat Rock Capital, which holds stakes in both Takeaway and Just Eat, said on Friday that the regulator’s review is “shocking”.
Alex Captain, founder of the Connecticut-based hedge fund, said the CMA’s investigation “seems to draw a false equivalence” with Amazon’s investment in Deliveroo.
“Amazon has a large UK business with millions of customers that it could leverage to re-enter the UK online food delivery market and increase competition,” he said in a statement. “Takeaway.com has no such UK presence, customer base, or brand name.”
"Eat" - Google News
January 24, 2020 at 02:40PM
https://ift.tt/2GlC6L8
Takeaway.com and Just Eat delay listing after UK regulator begins review - Financial Times
"Eat" - Google News
https://ift.tt/35xQHgx
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
Bagikan Berita Ini
0 Response to "Takeaway.com and Just Eat delay listing after UK regulator begins review - Financial Times"
Post a Comment