(Alliance News) - Uber Technologies Inc is attempting to break what it called Just Eat Takeaway.com NV's "monopolistic" stranglehold on the German food delivery market, the Financial Times reported on Wednesday.
According to the FT, Uber Eats will launch in Germany for the first time over the next few weeks, starting in Berlin, in its biggest entry to a new country since 2018.
Just Eat Takeaway has dominated online food ordering in Germany since Deliveroo PLC withdrew from the country in 2019, leaving few competitors of meaningful scale, the FT noted.
https://www.ft.com/content/b9de1752-80b1-402b-abb1-d8ad8a95e970
Just Eat Takeaway shares were down 4.6% at 7,563.00 pence, the worst performer in the FTSE 100 on Wednesday. Deliveroo was marginally lower at 242.70p. Shares in Uber Technologies closed down 4.1% at USD55.48 in New York on Tuesday.
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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Just Eat Takeaw (JET)
Deliveroo (ROO)