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UPDATE 1-UK clears Amazon's investment in online food platform Deliveroo

Tue, 4th Aug 2020 12:23

(Adds Deliveroo statement)

Aug 4 (Reuters) - Britain's competition regulator on Tuesday
cleared Amazon's purchase of a 16% stake in online
delivery group Deliveroo, following a provisional nod in June.

The Competition and Markets Authority (CMA) gave its
original clearance in April on the basis that Deliveroo could go
out of business without the investment. It changed approach to
focus on competition after criticism from rivals including Just
Eat Takeaway and Domino's Pizza.

"Today's final decision is the result of a thorough
examination of this deal and the markets in which Amazon and
Deliveroo operate," said Stuart McIntosh, the inquiry chair.

Amazon led a $575 million fundraising in Deliveroo in May
2019, which the parties called "a minority investment".

The Amazon investment will bolster Deliveroo in the global
race with Uber Eats and Just Eat Takeaway.com to
dominate the market for meal deliveries.

It said it would sue the funds to offer a
"hyper-personalised" service to customers, expand its
delivery-only kitchens and develop new technology to help
restaurant partners.

"We are delighted that the CMA has concluded its 15-month
investigation and that the Amazon minority investment can now go
ahead," a spokesman said.

(Reporting by Pushkala Aripaka in Bengaluru and Paul Sandle in
London; Editing by Saumyadeb Chakrabarty and Edmund Blair)

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