Delivery Hero faces US$434 million antitrust fine

Delivery Hero faces US$434 million antitrust fine

Delivery Hero SE could be fined more than US$434 million by the European Commission for alleged anti-competitive behavior and will increase the provision it has set aside for this possibility, the food ordering service company said in a statement on Sunday.

The company said its decision to “significantly increase” a corresponding provision already made in the amount of 186 million euros and as stated in its 2023 annual report followed a “recent informal engagement” with the European Commission.

“Delivery Hero intends to cooperate fully with the European Commission,” the Berlin-based company said.

In context, by 2023, Delivery Hero SE’s sites in Berlin and Barcelona were affected by a second wave of European Union antitrust raids as regulators searched for evidence of illegal deals to share confidential business information and avoid poaching staff from rivals.

Berlin-based Delivery Hero confirmed that the EU had carried out new raids and added that it is cooperating with the commission.The company’s Spanish subsidiary, Glovo, said in a separate statement that its Barcelona headquarters was targeted in the raids. Both were implicated in EU investigations last year.