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Money United Kingdom: green light from the regulator when Amazon enters Deliveroo

17:47  04 august  2020
17:47  04 august  2020 Source:   challenges.fr

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Royaume-Uni: feu vert du régulateur à l'entrée d'Amazon dans Deliveroo © AFP / Archives - JACQUES DEMARTHON United Kingdom: green light from the regulator when Amazon enters Deliveroo The British authority Competition announced on Tuesday that it had given the green light to the entry of the American giant Amazon into the capital of the meal delivery platform Deliveroo, believing that the operation would not penalize the consumer.

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The CMA (Competition and Markets Authority) launched an in-depth investigation into this operation in December, which provides for a 16% stake in Amazon and is fueling speculation about its ambitions in this booming market.

This is the end of a long regulatory soap opera since the regulator had provisionally validated the operation in April under pressure from the coronavirus and in order to allow Deliveroo to survive the crisis.

The CMA subsequently resumed its investigations, once the platform benefited from a stronger-than-expected resumption of its activity, which therefore led to this final green light, according to a press release.`

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development The regulator initially feared that the project would impoverish competition in the market, since it could have dissuaded Amazon from launching its own service, for example.

But he concluded that an investment of 16% of the capital did not involve such risks and would therefore not have any negative consequences for consumers. However, the CMA warns that if Amazon increases its stake, it may have to investigate again. Deliveroo announced last year the operation which provides for a total fundraising of 575 million dollars from Amazon and investment funds.

This money should enable it to finance its development in view of ever-increasing demand. Amazon had tried the meal delivery bet in 2016 before closing it two years later.

Deliveroo, headquartered in London, employs 2,500 people worldwide. The company works with 80,000 restaurants in 500 cities across 13 countries and has 60,000 delivery people, recognizable by the towering green backpacks they carry while cycling the streets.

"This is fantastic news for our UK customers and restaurants, for the UK economy," said Deliveroo in reaction to the CMA announcement.

The meal delivery sector is booming, with the recent merger in Europe between the British Just Eat and the Dutch Takeaway.com, or the takeover in the United States of Postmates by Uber, which already has Uber Eats .

(With AFP)

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