UPDATE 3-UK regulator clears Amazon stake in coronavirus-hit Deliveroo [Reuters (UK)]
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Source: Reuters
UK regulator clears Amazon stake in coronavirus-hit Deliveroo - Reuters 3 Min Read LONDON (Reuters) - Amazon’s purchase of a stake in Deliveroo has been provisionally cleared by Britain’s competition regulator in view of a potentially fatal deterioration in the online food delivery group’s finances because of the coronavirus pandemic. Amazon.com Inc ( AMZN.O ) led a $575 million fundraising in Deliveroo last May, making what the two parties called “a minority investment” and pitching it against Uber Eats ( UBER.N ) and Takeaway.com ( TKWY.AS ) in the global race to dominate the market for meal deliveries. Britain’s Competition and Markets Authority (CMA) launched a detailed investigation in December, saying the deal could damage competition by discouraging Amazon from re-entering the online restaurant food market and further developing its presence within the online convenience grocery delivery market. However, the CMA said on Friday it had become clear that the health emergency
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