The European Commission opens an investigation into Delivery Hero

seekingalpha07-23

The European Commission announced on Tuesday that it opened a formal antitrust investigation to assess whether Delivery Hero (DHERO) and Glovo have breached EU competition rules by participating in a ...

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The EC stated that it was concerned before the takeover of Glovo by Delivery Hero (DHERO) Glovo that may have allocated geographic markets and shared commercially sensitive information such as commercial strategies, prices, capacity, costs, and product characteristics. The Commission is also concerned that the companies may have agreed not to poach each other's employees. Delivery Hero's (DHERO) minority share in Glovo could have facilitated those practices. If proven, the companies' behavior may breach EU competition rules that prohibit cartels and restrictive business practices. The investigation was highlighted as the first by the European Commission into anti-competitive agreements that may have occurred in the context of a minority shareholding by one operator in a competitor. The decision could have implications for other companies such as DoorDash (DASH), Just Eat Takeaway.com N.V. 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