13th Aug 2021 16:06
Delivery Hero SE - Berlin, Germany-based delivery platform - Confirms it will not be making an offer for food delivery giant Deliveroo PLC.
The news comes after Delivery Hero's announcement on Monday that it had bought a 5.1% stake in London-based rival Deliveroo.
Delivery Hero was founded in 2011 and operates in 46 countries across Europe, the Middle East, Asia and Latin America. It formerly operated in the UK under the Hungryhouse brand, before selling that to Just Eat Takeaway.com NV in 2018.
Deliveroo, which also counts Amazon.com Inc among its investors, was founded in 2013 and is available in 12 countries in Europe, the Middle East and Asia Pacific, although it is in the process of shutting down its Spanish business.
Both companies use a network of restaurants and gig-economy couriers to provide a food delivery.
Delivery Hero current stock price: EUR117.00
Year-to-date change: down 7.9%
Deliveroo current stock price: 384.50 pence, up 3.5% Friday
Year-to-date change: up 34% since March IPO
By Will Paige; [email protected]
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