16th Apr 2020 14:43
(Alliance News) - Just Eat Takeaway.com NV on Thursday said UK regulators have lifted an enforcement, meaning the recent food delivery tie-up is free to begin its integration.
The UK Competition & Markets Authority back in January served Just Eat Takeaway with an initial enforcement order, requiring Takeaway.com and Just Eat to keep their businesses independent with separate management until an investigation concludes.
However, the order has been lifted, though a probe on the tie-up continues.
"The revocation of the IEO means that these restrictions no longer apply, and that Just Eat Takeaway.com is now free to integrate the two businesses. The CMA's investigation remains ongoing," Just Eat Takeaway said on Thursday.
The monopoly watchdog started a phase one investigation on March 19, and Just Eat Takeaway noted it has 40 working days from then to conduct the review, meaning the deadline for a decision is May 19.
"The company has been engaging constructively with the CMA throughout its review and will continue to do so," Just Eat Takeaway said.
Takeaway.com won a bidding war for Just Eat in January, in a deal worth 916 pence per Just Eat share. Johannesburg-listed media and internet investor Prosus NV had offered 800p.
Just Eat Takeaway.com shares were 3.9% higher at 8,066.00p each in London on Thursday afternoon.
By Eric Cunha; [email protected]
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